Answers
This Year | Last year | |
Working capital | $ 3,920,000 | $ 3,070,000 |
Current Ratio | 1.96 | 1.98 |
Acid Test ratio | 0.99 | 1.18 |
Average collection period | 58.85 | 49.12 |
Calculations:
Particulars | This Year | Last year | |
A | Current assets | $ 8,010,000 | $ 6,210,000 |
B | Current liablites | $ 4,090,000 | $ 3,140,000 |
A-B | Working Capital | $ 3,920,000 | $ 3,070,000 |
A | Current assets | $ 8,010,000 | $ 6,210,000 |
B | Current liablites | $ 4,090,000 | $ 3,140,000 |
A/B | Current Ratio | 1.96 | 1.98 |
Particulars | Amount | Amount | |
A | Quick assets (Current Assets - Prepaid expense - Inventory) | $ 4,060,000 | $ 3,700,000 |
B | Current liablites | $ 4,090,000 | $ 3,140,000 |
A/B | Acid Test ratio | 0.99 | 1.18 |
Particulars | Amount | Amount | |
A | Credit Sales | $ 15,940,000 | $ 14,380,000 |
B | Average Debtors(Opening + Closing)/2 | $ 2,570,000 | $ 1,935,000 |
A/B | Account Receiveables Turnover Ratio | 6.20 | 7.43 |
Particulars | Amount | Amount | |
A | 365 | 365 | 365 |
B | Account Receivables Turnover Ratio | $ 6.20 | $ 7.43 |
A/B | Average collection period | 58.85 | 49.12 |
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