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Directions: Use the following information given by Aysid Wash and Wear Suppl to compute for Liquidity Ratios. Cash P 400,000 Sales P 1,500,000 Accounts Receivable 500,000 700,000 Cost of Goods Sold Gross Profit Inventory 550,000 800,000 Equipment 850,000 Operating Expenses 300,000 Total Assets P 2,300,000 Operating income 500,000 Accounts Payable P 600,000 Interest Expense 50,000 Notes Payable 400,000 Net Income P 450,000 Owner, Capital 1,800,000 Total Liabilities and P 2,300,000 equity

Directions: Use the following information given by Aysid Wash and Wear Suppl to compute for Liquidity Ratios. Cash P 400,000 Sales P 1,500,000 Accounts Receivable 500,000 700,000 Cost of Goods Sold Gross Profit Inventory 550,000 800,000 Equipment 850,000 Operating Expenses 300,000 Total Assets P 2,300,000 Operating income 500,000 Accounts Payable P 600,000 Interest Expense 50,000 Notes Payable 400,000 Net Income P 450,000 Owner, Capital 1,800,000 Total Liabilities and P 2,300,000 equity

FINANCIAL ACCOUNTING
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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use the following information given to compute for liquidity ratios
Directions: Use the following information given by Aysid Wash and Wear Supplies to compute for Liquidity Ratios. Cash P 400,000 Sales P 1,500,000 Accounts Receivable 500,000 Cost of Goods Sold 700,000 Inventory 550,000 Gross Profit 800,000 Equipment 850,000 Operating Expenses 300,000 Total Assets P 2,300,000 Operating income 500,000 Accounts Payable Interest Expense 50,000 Notes Payable P 600,000 400,000 1,800,000 Net Income P 450,000 Owner, Capital Total Liabilities and P 2,300,000 equity
Transcribed Image Text:Directions: Use the following information given by Aysid Wash and Wear Supplies to compute for Liquidity Ratios. Cash P 400,000 Sales P 1,500,000 Accounts Receivable 500,000 Cost of Goods Sold 700,000 Inventory 550,000 Gross Profit 800,000 Equipment 850,000 Operating Expenses 300,000 Total Assets P 2,300,000 Operating income 500,000 Accounts Payable Interest Expense 50,000 Notes Payable P 600,000 400,000 1,800,000 Net Income P 450,000 Owner, Capital Total Liabilities and P 2,300,000 equity
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