18 points - 3 each) Selected financial statement data for Mure Company are presented below....
80.2K
Verified Solution
Link Copied!
Question
Accounting
18 points - 3 each) Selected financial statement data for Mure Company are presented below.
December 31, 2015
December 31, 2014
Cash
$ 40,000
$30,000
Short-term investments
20,000
18,000
Receivables (net)
100,000
90,000
Inventories
80,000
60,000
Total current liabilities
100,000
90,000
During 2015, net sales were $950,000, and cost of goods sold was $770,000. Instructions Compute the following ratios at December 31, 2015: (a) Current ratio (b) Acid-test ratio. (c) Accounts receivable turnover. (d) Days sales in accounts receivable. (e) Inventory turnover. (f) Days sales in inventory.
Paragraph
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
