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Ronald Company Has Current Assets of $115,000 and Current Liabilities

question 179

Essay

Ronald Company has current assets of $115,000 and current liabilities of $75,000 of which accounts payable are $65,000. Arnold's cost of goods sold is $420,000, its merchandise inventory increased by $20,000, and accounts payable were $45,000 the prior year. Calculate Ronald's working capital, payables turnover, and days' payable.


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United States

A country located in North America, consisting of 50 states, and known for its significant cultural and political influence globally.

Assimilation Model

A theory or approach suggesting that cultural or ethnic minorities should be absorbed into the dominant society, losing their original identities.

Societal Conditions

The state of society at a given time, including its norms, laws, and living standards.

Immigration

The action of coming to live permanently in a foreign country.

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