Vision Electronics, which makes DVD players, reported the following items at February 28, 2014 (amounts in thousands,

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Vision Electronics, which makes DVD players, reported the following items at February 28, 2014 (amounts in thousands, with last year's-2013-amounts also given as needed):

Accounts Payable $1,796 Accounts Receivable, net: 860 February 28, 2014 February 28, 2013 380 $ 440 300 Cash Inventories

Compute for 2014 Vision Electronics'
(a) Acid-test ratio,
(b) Days' sales in average receivables,
(c) Current ratio,
(d) Debt ratio,
(e) Gross margin percent,
(f) Inventory turnover. Evaluate each ratio value as strong or weak. Assume Vision Electronics sells on terms of net 30.

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Related Book For  book-img-for-question

Accounting Volume 1

ISBN: 978-0132690096

9th Canadian edition

Authors: Charles T. Horngren, Walter T. Harrison, Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood

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