Reading Columbia Sportswear’s Balance Sheet To answer the following questions, r
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Question
Reading Columbia Sportswear’s Balance Sheet
To answer the following questions, refer to Columbia Sportswear’s balance sheet at http://cvg.cengagenow.com/ilrn/books/pnal09h/images/ch02/appc.pdf
Required:
1. Which is the largest of Columbia Sportswear’s current assets on December 31, 2011?
A. Cash
B. Investments
C. Inventories
D. Prepaids
E. Receivables
2. What percentage of total current assets does it represent? Round your answer to one decimal place.
_______%
3. Which is the second largest of Columbia Sportswear’s current assets on December 31, 2011?
A. Cash
B. Investments
C. Inventories
D. Prepaids
E. Receivables
4. What percentage of total current assets does it represent? Round your answer to one decimal place.
_______%
Explanation / Answer
Inventory= 365,199
Total asset= 1,049,526
Accounts receivable=351,538
percentage of total current assets does it represent
=365199/1049526
=34.8%
Accounts receivable is the second largest of Columbia Sportswear’s current assets on December 31, 2011
percentage of total current assets does it represent =351538/1049526
=33.5%
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