Given the following balance sheet, calculate the following ratios for 2012:
a) current ratio
b) accounts receivable turnover
c) inventory turnover
d) debt ratio
Jessica's Jewellery Store
Comparative Balance Sheet
For Years Ended December 31, 2012 and 2011
(in thousands)

In addition, credit sales for 2012 were $525,000 and cost of goods sold was $1,255,500.

Question

Given the following balance sheet, calculate the following ratios for 2012:
a) current ratio
b) accounts receivable turnover
c) inventory turnover
d) debt ratio
Jessica's Jewellery Store
Comparative Balance Sheet
For Years Ended December 31, 2012 and 2011
(in thousands)
  
In addition, credit sales for 2012 were $525,000 and cost of goods sold was $1,255,500.

Quizplus · Accepted Answer

The Answer of Given the following balance sheet, calculate the following ratios for 2012:
a) current ratio
b) accounts receivable turnover
c) inventory turnover
d) debt ratio
Jessica's Jewellery Store
Comparative Balance Sheet
For Years Ended December 31, 2012 and 2011
(in thousands)
  
In addition, credit sales for 2012 were $525,000 and cost of goods sold was $1,255,500.

Given the Following Balance Sheet, Calculate the Following Ratios for 2012