Ottoman Manufacturing Company reported net sales all credit of $120,000 and $140,000 for 2013 and 2014,respectively and net income of $24,000 and $32,000 for 2013 and 2014,respectively.Ottoman's 2013 and 2014 balance sheets appear below:
Required:
a.Calculate the working capital for 2014.
b.Calculate the accounts receivable turnover for 2014.
c.Calculate the debt ratio for 2014.
Unit 12-3,

Question

Ottoman Manufacturing Company reported net sales all credit of $120,000 and $140,000 for 2013 and 2014,respectively and net income of $24,000 and $32,000 for 2013 and 2014,respectively.Ottoman's 2013 and 2014 balance sheets appear below:
  Required: 
a.Calculate the working capital for 2014.
b.Calculate the accounts receivable turnover for 2014.
c.Calculate the debt ratio for 2014.
Unit 12-3,

Quizplus · Accepted Answer

The Answer of Ottoman Manufacturing Company reported net sales all credit of $120,000 and $140,000 for 2013 and 2014,respectively and net income of $24,000 and $32,000 for 2013 and 2014,respectively.Ottoman's 2013 and 2014 balance sheets appear below:
  Required: 
a.Calculate the working capital for 2014.
b.Calculate the accounts receivable turnover for 2014.
c.Calculate the debt ratio for 2014.
Unit 12-3,

Ottoman Manufacturing Company Reported Net Sales All Credit of $120,000