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ACCT - Suppose Nordstrom, Inc., which operates department stores in numerous states

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Question;Suppose Nordstrom, Inc., which operates department stores in numerous states, has the following selected financial statement data for the year ending January 30, 2014.NORDSTORM, INC.Balance Sheet (partial)(in millions)End-of-YearBeginning-of-YearCash and cash equivalents $ 795 $ 72Accounts receivable (net) 2,035 1,942Inventory 898 900Prepaid expenses 88 93Other current assets 238 210Total current assets $4,054 $3,217Total current liabilities $2,014 $1,601For the year, net sales were $8,258 and cost of goods sold was $5,328 (in millions).(a) Compute the four liquidity ratios at the end of the year. (Round answers to 1 decimal place, e.g. 1.6.)Current ratio:1Acid-test ratio:1Accounts receivable turnover timesInventory turnover times

 

Paper#43824 | Written in 18-Jul-2015

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