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Problem Solving Survival Guide to accompany Financial Accounting, 8th Edition by Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt

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SOLUTION TO EXERCISE 14-2

(a)

  1. 330,000; 103,000
  2. 160,000; 103,000
  3. 203,000; 800,000
  4. 72,000; 568,500
  5. 72,000; 30,000
  6. 900,000; 790,000
  7. 126,000; 6,000
  8. 72,000; 900,000
  9. 72,000; 790,000
  10. 15,000; 72,000
  11. 900,000; 72,500; 365 days; 12.41
  12. 550,000; 160,000; 365 days; 3.44
  13. 72,000; 30,000
  14. 30; 2.40

Approach: Write down the components of each ratio to be computed. (Refer to Illustration 14-1 when needed.) Extract the pertinent data from the financial statements and additional information.

Explanation:

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