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Home Q & A Board Other Fields Homework Help Business Accounting
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majestico majestico
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6 years ago
Selected data for Stick's Design are given as of December 31, Year 1 and Year 2:

   Year 2   Year 1
Net Credit Sales   $25,000   $30,000
Cost of Goods Sold    16,000   18,000
Net Income   2,000   2,800
Cash   5,000   900
Accounts Receivable   3,000   2,000
Inventory   2,000   3,600
Current Liabilities   6,000   5,000

Required: Compute the following:
a. ________ Current ratio for Year 2.
b. ________ Acid-test ratio for Year 2.
c. ________ Accounts receivable turnover for Year 2.
d. ________ Average collection period for Year 2.
e. ________ Inventory turnover for Year 2.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
Author:
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OmpaOmpa
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6 years ago
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majestico Author
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#2
6 years ago
This is excellent. Excellent answer
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#3
3 years ago
Thank you
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