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## Accounting

 Accounting Basics Cost Accounting Financial Accounting Managerial Accounting Auditing Taxation

Q1) Partial comparative balance sheet and income statement information for Alegro Manufacturing Co. for years ending 2006 and 2007 is given below:

 2006 2007 Cash \$6,800 \$5,200 Marketable Securities 3,600 8,600 Accounts Receivable (net) 22,400 17,800 Inventory 27,200 24,800 Total Current Assets 60,000 56,400 Accounts Payable 20,000 14,100 Net Sales 161,280 110,360 Cost of Goods Sold 108,800 101,680 Gross Margin 52,480 8,680

In 2005, year-end balances for Accounts Receivable and Inventory were \$16,200 and \$25,600, respectively. Accounts Payable was \$15,300 in 2005 and is the only presently liability.

Create the following calculations.

1. Compute current ratio for 2006.
2. Compute quick ratio for 2006.
3. Compute receivable turnover for 2006.
4. Compute average days sales uncollected 2006.
5. Compute inventory turnover for 2006.
6. Compute average days inventory on hand for 2006.
7. Compute payables turnover for 2006.
8. Compute average days payable for the year 2006.
9. Compute current ratio for 2007.
10. Compute quick ratio for 2007.
11. Compute receivable turnover for 2007.
12. Compute average days sales uncollected for 2007.
13. Compute inventory turnover for 2007.
14. Compute average days inventory on hand for 2007.
15. Compute payables turnover for 2007.
16. Compute average days payable for the year 2007.

Accounting Basics, Accounting

• Category:- Accounting Basics
• Reference No.:- M922143

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