The accountant at Storm Inc. gathered the following selected accounting information: 2022 $ 35,000 Cash 28,000 33,000 Short-term investments Accounts receivable (net) Inventory Prepaid expenses Accounts payable Salaries payable Income taxes payable Bonds payable (due 2019) Sales Cost of goods sold Required Compute the acid-test ratio for 2022 and 2023. Compute the days' sales in average receivables for 2022 and 2023. Net accounts receivable on December 31, 2021 was $27,000. 47,000 7,000 55,000 10,000 3,000 90,000 250,000 2023 $33,000 180,000 29,000 30,000 50,000 5,500 62,000 8,000 2,500 90,000 230,000 165,000

The accountant at Storm Inc. gathered the following selected accounting information: 2022 $ 35,000 Cash 28,000 33,000 Short-term investments Accounts receivable (net) Inventory Prepaid expenses Accounts payable Salaries payable Income taxes payable Bonds payable (due 2019) Sales Cost of goods sold Required Compute the acid-test ratio for 2022 and 2023. Compute the days' sales in average receivables for 2022 and 2023. Net accounts receivable on December 31, 2021 was $27,000. 47,000 7,000 55,000 10,000 3,000 90,000 250,000 2023 $33,000 180,000 29,000 30,000 50,000 5,500 62,000 8,000 2,500 90,000 230,000 165,000

Name: Please do not give solution in image format thanku The accountant at S
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Description: Please do not give solution in image format thanku The accountant at Storm Inc. gathered the following selected accounting information:2022$ 35,000CashShort-term investmentsAccounts receivable (net)InventoryPrepaid expensesAccounts payableSalaries pa

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 8PB: The following select financial statement information from Vortex Computing. Compute the accounts...

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