Following information is available for Nick Company for the year ended 2020: Additional information: Amount for accounts receivable (net) at the end of 2019 was $57,000. The inventory as of 01st of January 2020 is calculated as $22,000. Required: Calculation of the following for the year ended 2020: a) Working capital b) Quick ratio c) Inventory turnover ratio. d) Accounts receivable turnover ratio and number of days in the collection assuming 366 days a year.

Following information is available for Nick Company for the year ended 2020: Additional information: Amount for accounts receivable (net) at the end of 2019 was $57,000. The inventory as of 01st of January 2020 is calculated as $22,000. Required: Calculation of the following for the year ended 2020: a) Working capital b) Quick ratio c) Inventory turnover ratio. d) Accounts receivable turnover ratio and number of days in the collection assuming 366 days a year.

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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