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The comparative financial statement of new World Piano Company for 2003,2002, and 2001 included the following selected data:2003 2002 2003In MillionsCash $67 $66 $62
Short Term Investments $93 $101 $69Recivables, net of allowance for doubtfulaccounts of $7, $6, $4 respectively $206 $154 $197Inventories $408 $383 $341prepaid expenses $32 $31 $25________________________________total current assets $806 $735 $694total current liabilities $440 $416 $388
Income Statement:Net Sales $2,071 $2,005 $1,944**Did number 1**1. Compute these ratios for 2003 and 2002 ( Must Show Work )A - Current Ratio (1.83 1.76)B - Acid-test Ratio (0.83 0.77)C - Days' sales in receivables (36 28)
2. Write a memo explaining to top management which ratio values showed improvement from 2002 to 2003 and which ratio values deteriorated. State whether the overall trend is favorable or unfavorable for the company and give the reason for your evaluation.
Accounts of trustees The trustee must keep proper books of account, which may be inspected by the creditors at any time. The cash book must be audited by the committee of insp
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Protected transactions These fall into three categories: (A) Under Section 50: Payments by the bankrupt to creditors; Payments or deliveries to the bankrupt; C
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Disclaimer The liquidator may disclaim onerous property consisting of: 1. Land burdened with onerous covenants; 2. Stocks and shares; 3. Unprofitable contracts, or 4.
Process to increase the financial health of company Financial affairs of a limited company enter public domain. With exception of small companies, there is also a requirement f
what is general legacy
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