30) Kaley Kaimainn, the controller for Supplies Unlimited has the following accounts: Account 12/31/2015 12/31/2014 12/31/2013 Cash and Cash Equivalents $12,000 $15,000 Short-Term Investments 10,000 5,000 Current Receivables, net 22,000 32,000 $40,000 Inventory 26,000 18,000 Prepaid Insurance 2,000 3,000 Salaries Payable 17,000 28,000 Short-Term Notes Payable 12,000 16,000 Credit Sales for year 300,000 200,000 1.Compute the Current Ratio for 2014 and 2015. 2.Did the Current Ratio improve? 3.Compute the Quick Ratio for 2014 and 2015. 4.Did the Quick Ratio improve? 5.Compute the Collection Period for 2014 and 2015. 6.Did the Collection Period improve? 31) Complete the following chart by filling in the missing items. Use a 365-day year. Average daily sales Days' sales in receivables Average Accounts Receivable Credit Sales 1 A B $80,400 $800,000 2 900 D $80,000 C

30) Kaley Kaimainn, the controller for Supplies Unlimited has the following accounts: Account 12/31/2015 12/31/2014 12/31/2013 Cash and Cash Equivalents $12,000 ...

30) Kaley Kaimainn, the controller for Supplies Unlimited has the following accounts:

1.Compute the Current Ratio for 2014 and 2015.

2.Did the Current Ratio improve?

3.Compute the Quick Ratio for 2014 and 2015.

4.Did the Quick Ratio improve?

5.Compute the Collection Period for 2014 and 2015.

6.Did the Collection Period improve?

31) Complete the following chart by filling in the missing items. Use a 365-day year.

	Average daily sales	Days' sales in receivables	Average Accounts Receivable	Credit Sales
1	A	B	$80,400	$800,000
2	900	D	$80,000	C

May 15, 2022