
Concept explainers
1.
Determine the amount of
2.
Compute the accounts receivable turnover ratio as of September 28, 2013.
3.
Determine the number of days that Incorporation A would take to collect its receivables on an average.
4.
Compute the liquid assets as a percent of current liabilities as of September 28, 2013 and September 27, 2014, and comment on the company’s ability to satisfy its current liabilities as of its fiscal 2015 year-end compared to its fiscal 2014 year-end.
5.
Identify the criterion which was used by Incorporation A to classify its items as cash equivalents.
6.
Re-compute requirement 2 and 4 and comment on any changes since September 28, 2013.

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Chapter 7 Solutions
FINANCIAL ACCOUNTING FUNDAMENTALS W/CO
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