Rip-em-for statements. Industries had the following ratios based on its beginning 2017 financial 1. Current ratio 2.
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Question:
Rip-em-ofr statements. Industries had the following ratios based on its beginning 2017 financial
1. Current ratio 1.4
2. Acid Test ratio 1
3. Accounts Receivable Turnover 9.3 times
4. Days in Inventory 30 days
5. Earnings per share $1.72
During 2017 the following selected transactions and events occurred
a. Declared and Paid a cash dividend on common stock
b. Purchased inventory on account
c. Collected an Accounts Receivable
Required :
Consider items (a)-(e) individually, for each of the above ratios
Related Book For
Accounting Principles
ISBN: 978-1119419617
IFRS global edition
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
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