Account -2

Based on the financial statements for Jackson Enterprises (income statement, statement of owner’s equity, and balance sheet) shown below, prepare the following financial ratios. All sales are credit sales. The Accounts Receivable balance on January 1, 20--, was $21,600. Assume 365 days per year.
1.Working capital
2.Current ratio
3.Quick ratio
4.Return on owner's equity
5.Accounts receivable turnover and average number of days required to collect receivables
6.Inventory turnover and average number of days required to sell inventory

  1. 👍
  2. 👎
  3. 👁

Respond to this Question

First Name

Your Response

Similar Questions

  1. accounting..help plz urgent!

    An accounting report that shows the changes in capital during the accounting period is: a.) a balance sheet. b.) an income statement. c.) a statement of owner's equity. d.) All of these answers are correct.

  2. accounting

    indicate in the table below the financial statement on which each of the following accounts appear. (FINANCIAL STATEMENTS) ACCOUNTS: CASH IN THE BANK DOES IT BELONG ON INCOME STATEMENT OR STATEMENT OF CHANGES IN OWNERS EQUITY OR

  3. Accounting

    Identify whether each of the following items would appear on the income statement (IS), statement of changes in stockholders’ equity (SE), balance sheet (BS), or statement of cash flows (CF). Some items may appear on more than

  4. bookkeeping

    Worksheet (Use the information from the trial balance in Exam Figure 2. Write the worksheet information on the form in Exam Figure 1.) You’ll need the following adjustment information: a. P. Woodsley counted the supplies on May

  1. Accounting

    Show the effect of each transaction on the individual accounts of the expanded accounting equation: Assets=Liabilities +Owner's Equity (Capital-Drawing+Revenues-Expenses). After each transaction, show the new account total.

  2. Child care

    Financing and Budgeting 1. Which one of the following categories makes up the largest percentage of a child care operating budget? A. Supplies B. Salaries and benefits C. Food D. Mortgage or rent 2. Child care operating budgets

  3. accounting

    P4-2A The adjusted trial balance columns of the worksheet for Porter Company are as follows. PORTER COMPANY Worksheet For the Year Ended December 31, 2008 Adjusted Account Trial Balance No. Account Titles Dr. Cr. 101 Cash 18,800

  4. Accounts

    The financial statement that shows business results in terms of revenue and expenses is __________. an income statement a balance sheet a statement of owner's equity the statement of cash flows Answer A

  1. Accounts

    On a worksheet, the adjusted balance of the Depreciation Expense account is extended to the __________ column. (Points: 5) Income Statement Debit Income Statement Credit Balance Sheet Debit Balance Sheet Credit I dnt understand

  2. accounting

    Use the following adjusted trial balance of Webb Trucking Company to prepare a classified balance sheet as of December 31, 2005. Account Title Debit Credit Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 7,000

  3. accounting

    An audit trail allows an individual to track a transaction from the journal entry to the general ledger through to the financial statements. The audit trail can also find all the transactions that comprise the dollar amount for

  4. accounting

    describe a balance sheet, income statement, retained earnings statement, and statement of cash flows? How does a company use these financial statements to make future business decisions?

You can view more similar questions or ask a new question.