FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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These are selected numbers from the financial statements of ZZZZ Best for fiscal years 1985 and 1986.

 

What calculations or analyses would you make with these numbers that might help you assess whether the financial relationships are “reasonable”?

 

  1985     1986    
Sales $ 1,240,524   $ 4,845,347  
Cost of goods sold   576,694     2,050,779  
Accounts receivable   0     693,773  
Cash   30,321     87,014  
Current liabilities   2,930     1,768,435  
Notes payable—current   0     780,507  

 

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