Homework Answers
7) Current ratio =
| Current assets | / | Current liabilities | = | Current ratio |
| 82600 | / | 55400 | = | 1.49:1 |
8) Acid test ratio
| Cash | + | Short term investment | + | Account receivable | / | Current liabilities | = | Acid test ratio |
| 15000 | + | 6000 | + | 21000 | / | 55400 | = | 0.76:1 |
9) Inventory turnover ratio
| Cost of goods sold | / | Average inventory | = | Inventory turnover ratio |
| 127100 | / | 31150 | = | 4.08 times |
10) Gross margin percentage
| Gross profit | / | Net Sales | = | Gross margin percentage |
| 187500-127100 | / | 187500 | = | 32.21% |
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prepare the following ratios for the current
year.
current ratio
acid test ratio
inventory turnover
Days sales in average receivables.
- Х Requirements Virginia's Crafts has provided the following data: (Click the icon to view the financial information.) Read the requirements Compute the following ratios for the current year for Virginia's Crafts: a. Current ratio b. Acid-test ratio c. Inventory turnover d. Days' sales in average receivables (assume all sales are on credit) a. Current ratio Enter the formula on...
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invest in a company in the digital phone business. You have
narrowed the choice to Best Digital Corp. and Zone Network, Inc.
and have assembled the following data.
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