, 22.06.2019 21:00 ajayfurlow

# Which fraction is equivalent to 24/40. 2/3. 12/40. 3/5. 2.

the answer is 3/5

step-by-step explanation:

first divide 24 divided by 8 because that is the least common multiple

then divide 40 by 8

then you will get 3/5.

The computation is shown below:-

1. Current ratio is

= Current Assets ÷ Current Liabilities

= $7,860 ÷$3,930

= 2

2. Current cash debt coverage is

= Net Cash Provided by Operating Activities ÷ Average Current Liabilities

Average Current Liabilities = ($3,930 +$3,122) ÷ 2

= $3,526 Current Cash Debt Coverage Ratio =$1,251 ÷ $3,526 = 25.48% 3. Accounts receivable turnover is = Net Credit Sales ÷ Average Accounts Receivables =$8,258 ÷ (($4,000 +$3,800) ÷ 2)

= $8,258 ÷$3,900

= 2.12 times

4. Average collection period is

= 365 ÷ Account Receivable Turnover

= 365 ÷ 2.12

= 172.17

5. Inventory Turnover is

= Cost of Goods Sold ÷ Average Inventory

= $5,328 ÷ ((1,800 + 1,800) ÷ 2 =$5,328 ÷ 1,800

= 2.96

6. Days in Inventory is

= 365 ÷ Inventory Turnover Ratio

= 365 ÷ 2.96

= 123.31 days

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