Which assets is most liquid


Response to the following questions:

1. The following annual account balances are taken from ProTeam Sports at December 31.

                                                                  2011                                      2010

Accounts receivable . . . . . . . .                     $ 75,692                               $ 70,484

Net sales . . . . . . . . . . . . . . . . .                   2,591,933                            2,296,673

What is the change in the number of days' sales uncollected between years 2010 and 2011? According to this analysis, is the company's collection of receivables improving? Explain.

2. Which of the following assets is most liquid? Which is least liquid?

Inventory, building, accounts receivable, or cash.

 

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Which assets is most liquid
Reference No:- TGS02135263

Expected delivery within 24 Hours