Taft Technologies has the following relationships: annual sales $1,200,000 current liabilities $375,000 days sales outstanding (DSO)(360-day year) 40 Inventory Turnover Ratio 4.8 current ratio 1.2 The company's current assets consist of cash, inventories, and accounts receivable. How much cash does Taft have on its balance sheet, knowing also that the company's Cost of Goods Sold (including Depreciation) is 960,000? A -$8,333 B. $116,667 C. $125,000 D. $200,000 E $316,667

Taft Technologies has the following relationships: annual sales $1,200,000 current liabilities $375,000 days sales outstanding (DSO)(360-day year) 40 Inventory Turnover Ratio 4.8 current ratio 1.2 The company's current assets consist of cash, inventories, and accounts receivable. How much cash does Taft have on its balance sheet, knowing also that the company's Cost of Goods Sold (including Depreciation) is 960,000? A -$8,333 B. $116,667 C. $125,000 D. $200,000 E $316,667

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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