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Question 17 K Determine Cash balance for Violet Inc.. Partial balance sheet data for Violet is as follows: Ccurrent ratio of 3.0, a Quick ratio of 1.5, and Current liabilities of $12,000? Violet's Sales are $115,525, and its Average Collection Period is 40 days? (Assume 365 days per year.). Assume Violet's current assets includes only Cash, inventory and accounts receivables. $12,660 $11,340 $3,660 $17,340 $5,340 $1,740

Question 17 K Determine Cash balance for Violet Inc.. Partial balance sheet data for Violet is as follows: Ccurrent ratio of 3.0, a Quick ratio of 1.5, and Current liabilities of $12,000? Violet's Sales are $115,525, and its Average Collection Period is 40 days? (Assume 365 days per year.). Assume Violet's current assets includes only Cash, inventory and accounts receivables. $12,660 $11,340 $3,660 $17,340 $5,340 $1,740

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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Question 17 Determine Cash balance for Violet Inc.. Partial balance sheet data for Violet is as follows: Ccurrent ratio of 3.0, a Quick ratio of 1.5, and Current liabilities of $12,000? Violet's Sales are $115,525, and its Average Collection Period is 40 days? (Assume 365 days per year.). Assume Violet's current assets includes only Cash, inventory and accounts receivables. $12,660 $11,340 $3,660 $17,340 $5,340 $1,740
Transcribed Image Text:Question 17 Determine Cash balance for Violet Inc.. Partial balance sheet data for Violet is as follows: Ccurrent ratio of 3.0, a Quick ratio of 1.5, and Current liabilities of $12,000? Violet's Sales are $115,525, and its Average Collection Period is 40 days? (Assume 365 days per year.). Assume Violet's current assets includes only Cash, inventory and accounts receivables. $12,660 $11,340 $3,660 $17,340 $5,340 $1,740
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