1. At December 31,2021, Rey's current ratio was?2. At December 31,2021,Rey's quick (acid test) ratio was?3. For 2021, Rey's accounts receivable turnover was? 1s no yd bezu boheg pritnuo inom-ST antno 20ne ono 10ey 1obneloo ert Rey, Inc. onioo 2oinogmoo teom yd bodorlto eo no abne 1dt 10eyentonozpe oole o pnhub Dey losal 2DSelected Financial Datale jovewort22enizud oDecember 31Cash-Accounts receivable (net)-Merchandise inventoryShort-term marketable securities2021P 170,000450,000540,00080,0002020P 90,000400,000420,000have2ei bno bloe aboo40,0001,000,00050,000Land and building (net) 20e1ont.of vtiupo 21onwo er1,000,000Mortgage payable - current portion orle suneven iont 2etop 60,000- Accounts payable - and accrued liabilities Jriog zirlt tA be240,000220,000100,000140,000Short-term notes payable10 zboop enrt to eulovNet credit sales totaled to P3,000,000 and P2,000,000 for the years ended December 31, 2021 and 2020,onicno eteliamoo zi 22e0o1g pnimoe ertt neriw besin00saem p ai everil nerlw boieg ertrespectively.

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Answered: At December 31,2021, Rey's current…

Business

Accounting

At December 31,2021, Rey's current ratio was? 2. At December 31,2021,Rey's quick (acid test) ratio was? 3

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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calculate these (d) Current ratio :1 (e) Accounts receivable turnover times (f) Average collection period days
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