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problem: These summarized data were obtained from the accounting records of Hamberg Company at the end of its fiscal year, September 30:

 

2008

2007

Cash

$30,225

$27,240

Accounts receivable

149,375

128,160

Inventory

140,250

90,690

All other assets

435,900

333,580

Accounts payable

131,625

109,500

Bank note payable, due in 90 days

60,000

36,000

Note payable, due in 8 years

34,375

27,500

Sales

980,800

800,680

Cost of goods sold

827,500

651,780

Operating expenses

35,650

26,330

find out the following for 2008 given the data provided:

[A] Activity ratios.

[B] Liquidity and solvency ratios.

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M919126

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