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Heritage Antiquing Services - Ratios - 18 Jul, 2013

EXERCISE 15-3

Comparative financial statements for Heritage Antiquing Services for the fiscal year ending December 31 appear on the following page. The company did not issue any new common or preferred stock during the year. A total of 600 thousand shares of common stock were outstanding. The interest rate on the bond payable was 14%, the income tax rate was 40%, and the dividend per share of common stock was $0.75. The market value of the company's common stock at the end of the year was $26. All of the company's sales are on account.


REQUIRED:

COMPUTE THE FOLLOWING FINANCIAL DATA FOR SHORT-TERM CREDITORS FOR THIS YEAR

1.      WORKING CAPITAL

2.      CURRENT RATIO

3.      ACID-TEST RATIO

4.      ACCOUNTS RECEIVABLE TURNOVER

5.      AVERAGE COLLECTION PERIOD

6.      INVENTORY TURNOVER

7.      AVERAGE SALE PERIOD


Please see the attachment for full question



Category : Financial Accounting

Search Keywords :
Heritage , Antiquing , Services , Ratios , Working , Current , Acid-test , Turnover 


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Answer  - 18 Jul, 2013
Please see the excel attachment....


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