KING CORPORATION;Partial Balance Sheet;December 31,2009;Assets;Current assets;Cash $33,493;Marketable securities $215,147;Trade receivables, less allowance of $6,000 $255,000;Inventories, LIFO $523,000;Prepaid expenses $26,180;Total current assets $1,052,820;Liabilities;Current liabilities;Trade accounts payable $103,689;Notes payable (primarily to banks) and commercial paper $210,381;Accrued expenses and other liabilities $120,602;Income taxes payable $3,120;Current maturities of long-term debt $22,050;Total current liabilities $459,842;KING CORPORATION;Partial Income Statement;For Year Ended December 31, 2009;Net sales $3,050,600;Miscellaneous income $45,060;$3,095,660;Cost and expenses;Cost of sales $2,185,100;Selling, general, and administrative expenses $350,265;Interest expense $45,600;Income taxes $300,000;$2,880,965;Net income $214,695;The trade receivables at December 31, 2008, were $280,000, net of an allowance of $8,000, for a gross receivables figure of $288,000. The Inventory at December 31,2008, was $565,000;Compute the following;a. Working capital;b. Current ratio;c. Acid-test ratio;d. Cash ratio;e. Days' sales in receivables;f. Accounts receivable turnover in days;g. Days' sales in inventory;h. Inventory turnover in days;i. Operating cycle
This question was answered on: Dec 18, 2020
Buy this answer for only: $18.50
This attachment is locked
We have a ready expert answer for this paper which you can use for in-depth understanding, research editing or paraphrasing. You can buy it or order for a fresh, original and plagiarism-free copy (Deadline assured. Flexible pricing. TurnItIn Report provided)
Pay using PayPal (No PayPal account Required) or your credit card . All your purchases are securely protected by .
About this QuestionSTATUS
Dec 18, 2020EXPERT
GET INSTANT HELP/h4>
We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.
You can also use these solutions:
- As a reference for in-depth understanding of the subject.
- As a source of ideas / reasoning for your own research (if properly referenced)
- For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).
NEW ASSIGNMENT HELP?
Order New Solution. Quick Turnaround
Click on the button below in order to Order for a New, Original and High-Quality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.
WE GUARANTEE, THAT YOUR PAPER WILL BE WRITTEN FROM SCRATCH AND WITHIN YOUR SET DEADLINE.