Excerpts from Dinis Corporation's most recent balance sheet (in thousands of dollars) appear below:
Sales on account during the year totaled $1,240 thousand. Cost of goods sold was $770 thousand.
Required:
Compute the following for Year 2:
a. Working capital.
b. Current ratio.
c. Acid-test ratio.
d. Accounts receivable turnover.
e. Average collection period.
f. Inventory turnover.
g. Average sale period.

Question

Excerpts from Dinis Corporation's most recent balance sheet (in thousands of dollars) appear below:  
Sales on account during the year totaled $1,240 thousand. Cost of goods sold was $770 thousand.
Required:
Compute the following for Year 2:
a. Working capital.
b. Current ratio.
c. Acid-test ratio.
d. Accounts receivable turnover.
e. Average collection period.
f. Inventory turnover.
g. Average sale period.

Quizplus · Accepted Answer

The Answer of Excerpts from Dinis Corporation's most recent balance sheet (in thousands of dollars) appear below:  
Sales on account during the year totaled $1,240 thousand. Cost of goods sold was $770 thousand.
Required:
Compute the following for Year 2:
a. Working capital.
b. Current ratio.
c. Acid-test ratio.
d. Accounts receivable turnover.
e. Average collection period.
f. Inventory turnover.
g. Average sale period.

Excerpts from Dinis Corporation's Most Recent Balance Sheet (In Thousands