Amram Companys current ratio is 2.4. Considered alone, which ...

[Darron12]

Question 1

ABC Inc. has a 65-day average payables period. The account payables are $2,960.60 at the beginning and $3,850.40 at the end of the year. What is the annual cost of goods sold? Use a 365-day year when calculating the APP.

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$16,810

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$17,322

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$18,190

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$19,123

Question 2

Amram Company’s current ratio is 2.4. Considered alone, which action would reduce the company’s current ratio?

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use cash to reduce accruals

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use cash to reduce accounts payable

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borrow using short-term notes payable and use the proceeds to reduce accrued taxes

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borrow using short-term notes payable and use the proceeds to purchase new equipment

[Deonnak85]

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[Darron12]

Excellent

[ryhom]

Thanks for the timely response, appreciate it