Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the following financial data were reported by gkd

The following financial data were reported by GKD Company for 2021 and 2022 (dollars in...

80.2K

Verified Solution

Question

Accounting

image

image

image

image

The following financial data were reported by GKD Company for 2021 and 2022 (dollars in millions). Your answer is correct. Calculate the current ratio and working capital for GKD for 2022 and 2021. (Round current ratio to 2 decimal places, e.g. 1.25:1.) Suppose at the end of 2022 , GKD management used $512 million cash to pay off $512 million of accounts payable. (Round current ratio to 2 decimal places, e.g. 1.25:1.) Current ratio :1 Working capital $ How would the current ratio and working capital have changed? The current ratio had and working capital had - Your answer is partially correct. Suppose at the end of 2022, GKD management collected $384 million cash on accounts receivable. (Round current ratio to 2 decimal places, e.g. 1.25:1.) Current ratio :1 Working capital $ How would the current ratio and working capital have changed? The current ratio had and working capital had

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students