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enyata [817]
2 years ago
8

Walker Telecommunications has a quick ratio of 2.00x, $35,550 in cash, $19,750 in accounts receivable, some inventory, total cur

rent assets of $79,000, and total current liabilities of $27,650. The company reported annual cost of goods sold of $200,000 in the most recent annual report.
Required:
a. Over the past year, how often did Walker Telecommunications sell and replace its inventory?
O 9.28x
O 8.01x
O 8.44x
O 2.86x
Business
1 answer:
Oduvanchick [21]2 years ago
8 0

Answer:

Option C: 8.44 times

Explanation:

Quick ratio(also called as acid test ratio) is the indicator of a company's liquidity position at a very short period which only considers the most liquid assets and ignores Inventory & other assets which cannot be realised immediately.

As we know that Quick Ratio = [Current Assets - Inventory - Prepaid Assets] / Current Liabilities

2.00 = $79,000 - Inventory - 0] / $27,650

=> Inventory = $23,700‬

Inventory turnover ratio gives us the number of times the company sells and replaces its inventory during the period.

Annual Sales = $200,000

Inventory Turnover Ratio = Sales / Average Inventory

=> $200,000 / $23,700 => 8.44 times

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Central, Peripheral

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3 years ago
Costs and benefits that should be ignored when making decisions are called ______ costs and benefits.
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2 years ago
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An employee earns $16 per hour and 1.75 times that rate for all hours in excess of 40 hours per week. assume that the employee w
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7 0
2 years ago
Your retirement account has a current balance of $50,000. You plan to add $6,000 a year to the account for each of the next 30 y
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Answer:

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Using the interest rate function RATE(nper,pmt,pv,fv) in the excel, we obtain an interest rate of 21.45%

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pmt = annual payment

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Note: Find attached the excel sheet to see result.

Download xlsx
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