Homework Answers
| Current Ratio | ||||||||||
| Choose Numerator: | / | Choose Denominator: | = | Current Ratio | ||||||
| Current assets | / | Current liabilities | = | Current ratio | ||||||
| Current yr | 225334 | / | 123703 | = | 1.82 | to 1 | ||||
| 1 Yr ago | 178586 | / | 70270 | = | 2.54 | to 1 | ||||
| 2 Yrs ago | 135171 | / | 44814 | = | 3.02 | to 1 | ||||
| Current ratio worsen over three year period | ||||||||||
| Acid-Test Ratio | ||||||||||
| Choose Numerator: | / | Choose Denominator: | = | Acid-Test Ratio | ||||||
| Cash | + | Short-term investments | + | Current receivables | / | Current liabilities | = | Acid-test ratio | ||
| Current yr | 28742 | + | 0 | + | 81653 | / | 123703 | = | 0.89 | to 1 |
| 1 Yr ago | 32599 | + | 0 | + | 58794 | / | 70270 | = | 1.30 | to 1 |
| 2 Yrs ago | 34997 | + | 0 | + | 46662 | / | 44814 | = | 1.82 | to 1 |
| Acid-test ratio worsen over three year period | ||||||||||
| Workings: | ||||||||||
| Current Yr. | 1 Yr. Ago | 2 Yrs. Ago | ||||||||
| Cash | 28742 | 32599 | 34997 | |||||||
| Accounts Receivable | 81653 | 58794 | 46662 | |||||||
| Merchandise Inventory | 105775 | 78461 | 49700 | |||||||
| Prepaid expenses | 9164 | 8732 | 3812 | |||||||
| Current assets | 225334 | 178586 | 135171 | |||||||
Add Answer to:
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago $ 28,742...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 31,596 92,499 119,789 10,483 286,564 $ 540,931 $ 37,679 $ 38,856 65,938 50,269 87,132 56,285 9,597 4, 189 265,974 239,001 $ 466,320 $...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 32,000 $ 38,160 $ 40,951 Accounts receivable, net 91,808 68,103 53,011 Merchandise inventory 118,965 89,993 55,887 Prepaid expenses 10,201 10,116 4,462 Plant assets, net 294,873 265,910 247,289 Total assets $ 547,847 $ 472,282 $ 401,600 Liabilities and Equity Accounts payable $ 139,142 $ 79,816 $ 52,481 Long-term notes payable secured by mortgages on plant assets 100,935 107,539 90,529 Common stock,...
Simon Company's year-end balance sheets follow. Current Y 1 Yr Ago 2 Yrs Ago At December...
Simon Company's year-end balance sheets follow. Current Y 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 26,426 78,108 94,392 8,510 236,030 $ 443,466 $ 29,972 $ 32,177 52,451 42,053 71,432 45,239 7,787 3,540 220,656 198,791 5 382,298 5 321,880...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 28,607 $ 34,818 $ 34,484 Accounts receivable, net 87,187 59,726 48,349 Merchandise inventory 107,471 79,720 49,972 Prepaid expenses 9,592 9,049 3,990 Plant assets, net 267,010 247,607 222,305 Total assets $ 499,867 $ 430,920 $ 359,100 Liabilities and Equity Accounts payable $ 120,733 $ 74,282 $ 48,349 Long-term notes payable secured by mortgages on plant assets 95,854 99,112 80,948 Common stock,...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 32,734 96,790 122,900 10,541 297,454 $560,419 $ 39,036 $ 39,857 68,313 52,612 88,483 57, 169 10,247 4,517 277,041 248,445 $483,120 $402,600 $142,335 $...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 32,995 97,276 122, 306 10,596 294,626 $ 557,709 $ 38,847 $ 40,867 65,964 52,886 88,056 58,617 10,197 4, 363 277,720 247,967 $ 480,784...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 33,360 $ 38,215 $ 41,026 Accounts receivable, net 95,721 68,923 53,618 Merchandise inventory 122,782 90,176 58,263 Prepaid expenses 10,421 9,929 4,558 Plant assets, net 303,142 280,193 252,835 Total assets $ 565,426 $ 487,436 $ 410,300 Liabilities and Equity Accounts payable $ 137,975 $ 82,377 $ 52,535 Long-term notes payable secured by mortgages on plant assets 105,237 113,231 91,583 Common stock,...
Simon Company's year-end balance sheets follow. 1 Yr Ago At December 31 Current Yr 2 Yrs...
Simon Company's year-end balance sheets follow. 1 Yr Ago At December 31 Current Yr 2 Yrs Ago Assets 43,294 $ 78,060 101,128 11,824 312,332 Cash $ 36,664 109,515 139,e58 12,409 336,454 45,540 60,720 65,320 5,011 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 270,e09 546,638 446,600 634,100 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $1e par value Retained earnings $ 157,891 $ 93,306 58,951 119,211 162,50e 194,498...
Exercise 13-7 Analyzing liquidity LO P3 Simon Company's year-end balance sheets follow. Current Yr 1 Yr...
Exercise 13-7 Analyzing liquidity LO P3 Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 29,604 86,667 105,699 9,437 275,420 $ 506,827 $ 35,653 61,780 79,214 9,267 251,006 $ 436,920 $ 37,127...
Saved Exercise 13-7 Analyzing liquidity LO P3 Simon Company's year-end balance sheets follow. Current Yr 1...
Saved Exercise 13-7 Analyzing liquidity LO P3 Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 29,947 87,692 112,506 9,843 283,295 $ 523,283 $ 35,728 $ 37,953 64,418 48,148 81,786 52,324 9,663...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 31,596 92,499 119,789 10,483 286,564 $ 540,931 $ 37,679 $ 38,856 65,938 50,269 87,132 56,285 9,597 4, 189 265,974 239,001 $ 466,320 $...
Simon Company's year-end balance sheets follow. Current Y 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 26,426 78,108 94,392 8,510 236,030 $ 443,466 $ 29,972 $ 32,177 52,451 42,053 71,432 45,239 7,787 3,540 220,656 198,791 5 382,298 5 321,880...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 32,734 96,790 122,900 10,541 297,454 $560,419 $ 39,036 $ 39,857 68,313 52,612 88,483 57, 169 10,247 4,517 277,041 248,445 $483,120 $402,600 $142,335 $...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 32,995 97,276 122, 306 10,596 294,626 $ 557,709 $ 38,847 $ 40,867 65,964 52,886 88,056 58,617 10,197 4, 363 277,720 247,967 $ 480,784...
Simon Company's year-end balance sheets follow. 1 Yr Ago At December 31 Current Yr 2 Yrs Ago Assets 43,294 $ 78,060 101,128 11,824 312,332 Cash $ 36,664 109,515 139,e58 12,409 336,454 45,540 60,720 65,320 5,011 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 270,e09 546,638 446,600 634,100 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $1e par value Retained earnings $ 157,891 $ 93,306 58,951 119,211 162,50e 194,498...
Exercise 13-7 Analyzing liquidity LO P3 Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 29,604 86,667 105,699 9,437 275,420 $ 506,827 $ 35,653 61,780 79,214 9,267 251,006 $ 436,920 $ 37,127...
Saved Exercise 13-7 Analyzing liquidity LO P3 Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 29,947 87,692 112,506 9,843 283,295 $ 523,283 $ 35,728 $ 37,953 64,418 48,148 81,786 52,324 9,663...
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