Quick assets P208,000 Acid test ratio 2.6 to 1 Current ratio 3.5 to 1 Net sales for the year P1,800,000 Cost of sales for the year P990,000 Average total assets P1,200,000 The company’s inventory balances at December 31 is? The company’s asset turnover ratio for the year is?

Quick assets P208,000 Acid test ratio 2.6 to 1 Current ratio 3.5 to 1 Net sales for the year P1,800,000 Cost of sales for the year P990,000 Average total assets P1,200,000 The company’s inventory balances at December 31 is? The company’s asset turnover ratio for the year is?

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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100%

16.

Quick assets P208,000

Acid test ratio 2.6 to 1

Current ratio 3.5 to 1

Net sales for the year P1,800,000

Cost of sales for the year P990,000

Average total assets P1,200,000

The company’s inventory balances at December 31 is?
The company’s asset turnover ratio for the year is?

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