How many days is the average collection period ahd what is the current ratio?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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How many days is the average collection period ahd what is the current ratio?

For Questions 28 - 30
On December 31 of the current year, a company's record shows the following information:
Cash
Accounts Receivable
Inventories
Net Fixed Assets
Accounts Payable
Other current liabilities
Long-term debt
Common Equity
Sales Revenue.
Cost of goods sold
Operating expenses
Interest Expense
Income Tax
P
775,000
3,360,000
2,415,000
2,925,000
2,130,000
1,170,000
2,560,000
3,615,000
16,075,000
13,925,000
1,450,000
245,000
182.000
Determine the following financial ratios. Round off answer up to 2 decimals. Incorrect rounding will be marked wrong.
Transcribed Image Text:For Questions 28 - 30 On December 31 of the current year, a company's record shows the following information: Cash Accounts Receivable Inventories Net Fixed Assets Accounts Payable Other current liabilities Long-term debt Common Equity Sales Revenue. Cost of goods sold Operating expenses Interest Expense Income Tax P 775,000 3,360,000 2,415,000 2,925,000 2,130,000 1,170,000 2,560,000 3,615,000 16,075,000 13,925,000 1,450,000 245,000 182.000 Determine the following financial ratios. Round off answer up to 2 decimals. Incorrect rounding will be marked wrong.
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