Question Details

The company's accounts receivable turnover ratio was closest to 



1.	Eagle Company has $9,000 in cash, $11,000 in marketable securities, $26,000 in current receivables, $34,000 in inventories, and $40,000 in current liabilities. The company's quick ratio is closest to
a.	1.35.
b.	1.15.
c.	2.00.
d.	1.73.


	
	2.	Siri Company has $20,000 in cash, $8,000 in marketable securities, $36,000 in current receivables, $18,000 in inventories, and $68,000 in current liabilities. The company's quick ratio is closest to
a.	.94.
b.	.41.
c.	1.88.
d.	1.21.


	

	3.	Phillips Company had $300,000 in sales on account last year. The beginning accounts receivable balance was $25,000 and the ending accounts receivable balance was $18,000. The company's accounts receivable turnover ratio was closest to 
a.	16.67.
b.	12.00.
c.	3.85.
d.	13.95.


	

	4.	Miller Company had $120,000 in sales on account last year. The beginning accounts receivable balance was $8,000 and the ending accounts receivable balance was $14,000. The company's accounts receivable turnover ratio was closest to
a.	5.45.
b.	8.57.
c.	10.91.
d.	15.00.


	

	5.	Arnold Company had $650,000 in sales on account last year. The beginning accounts receivable balance was $24,000 and the ending accounts receivable balance was $36,000. The company's accounts receivable turnover ratio was closest to
a.	21.67.
b.	10.83.
c.	27.08.
d.	18.06.




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