Homework Answers
1) Current ratio = Current assets/Current liabilities = 258500/112400 = 2.30:1
So answer is a) 2.30
2) Inventory turnover = Cost of goods sold/average inventory = 394000/127000 = 3.10
So answer is a) 3.10
3) Acid test ratio = Quick assets/current liabilities = 238600/105400 = 2.26
So answer is c) 2.26
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Refer to the following selected financial information from McCormik, LLC. Compute the company's current ratio for...
Help Refer to the following selected financial information from McCormik, LLC. Compute the company's current ratio...
Help Refer to the following selected financial information from McCormik, LLC. Compute the company's current ratio for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 38,300 $ 33,050 98,000 64,000 89, 500 83,500 125,000 129,000 12,900 10,500 392,000 342,000 109,400 111,800 715,000 680,000 394,000 379,000 Multiple Choice 2.43 3.32 Oo oo 218 206
Refer to the following selected financial information from McCormik, LLC. Compute the company's current ratio for...
Refer to the following selected financial information from McCormik, LLC. Compute the company's current ratio for Year 2 11:16 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 39,300 $ 34,050 108,000 69,000 94,500 88,500 130,000 134,000 13,900 11,500 397,000 347,000 104,400 116,800 720,000 685,000 399,000 384,000 Multiple Choice & Prov 27 of 30 # Next >
Refer to the following selected financial information from McCormik, LLC. Compute the company's acid test ratio...
Refer to the following selected financial information from McCormik, LLC. Compute the company's acid test ratio for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Coat of goods sold Year 2 Year 1 $ 37,600 $ 32, 350 91,000 60,500 86,000 80,000 121, 500 125,500 12,200 9,800 388,500 338,500 112,900 108,300 711,500 676,500 390,500 375,500 Multiple Choice 0 0 0 0 0
Refer to the following selected financial information from McCormik, LLC. Compute the company's working capital for...
Refer to the following selected financial information from McCormik, LLC. Compute the company's working capital for Year 2. Year 2 Year 1 Cash $ 38,700 $ 33,450 Short-term investments 102,000 66,000 Accounts receivable, net 91,500 85,500 Merchandise inventory 127,000 131,000 Prepaid expenses 13,300 10,900 Plant assets 394,000 344,000 Accounts payable 107,400 113,800 Net sales 717,000 682,000 Cost of goods sold 396,000 381,000
Refer to the following selected financial information from McCormik, LLC. Compute the company's working capital for...
Refer to the following selected financial information from McCormik, LLC. Compute the company's working capital for Year 2. Year 2 Year 1 Cash $ 39,400 $ 34,150 Short-term investments 109,000 69,500 Accounts 95,000 receivable, net 89,000 Merchandise inventory 130,500 134,500 Prepaid expenses 14,000 11,600 Plant assets 397,500 347,500 Accounts payable 103,900 117,300 Net sales 720,500 685,500 Cost of goods sold 399,580 384,500 Multiple Choice $175,000 $270,000 $189,000 $284,000 $153,500.
Refer to the following selected financial information from McCormik, LLC. Compute the company's accounts receivable turnover...
Refer to the following selected financial information from McCormik, LLC. Compute the company's accounts receivable turnover for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant asaeta Accounts payable Net sales Cost of goods Bold Year 2 Year 1 $ 39,500 $ 110,000 70,000 95,500 89,500 131,000 135,000 14,100 11,700 398,000 348,000 103, 400 117,00 721,000 686,000 400,000 385,000 Multiple Choice 0 0 6.55 0 0 255. 0 8 .06. 0 0 5.50 0 779
Refer to the following selected financial information from McCormik, LLC. Compute the company's working capital for...
Refer to the following selected financial information from McCormik, LLC. Compute the company's working capital for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses plant assets Accounts payable Net sales Coat of goods sold Year 2 Year 1 3 Зв, 800 $ 33, 550 103,000 66,500 92,000 86,000 127,500 131,500 13, 400 11,000 394,500 344,500 106,900 114, 300 717, 500 602, 500 396,500 301, 500 Multiple Choice o 3175,800. o О 3254,400. o $267,800. o (...
Please explain your work, thank you!! Refer to the following selected financial information from McCormik, LLC....
Please explain your work, thank you!!
Refer to the following selected financial information from McCormik, LLC. Compute the company's acid-test ratio for Year 2. Year 2 Year $38,800 33,558 Cash Short-term investments 103,00 66, see Accounts receivable, net 92,000 86,08e Merchandise inventory 127,500 131,500 Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold 13,400 11,000 394, 500 344,500 106,980 114,300 717,500 682,500 396, 5e0 381,5e0
Refer to the following selected financial information from McCormik, LLC. Compute the company's accounts receivable turnover...
Refer to the following selected financial information from McCormik, LLC. Compute the company's accounts receivable turnover for Year 2. Year 2 Year 1 Cash $ 39,800 $ 33,750 Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold 105,000 67,500 93,000 87,000 128,500 132,500 13,600 11,200 395,500 345,500 105,900 115,300 718,500 683,500 397,500 382,500 10 0 0 0 On December 31 of the current year, the unadjusted trial balance of a...
Refer to the following selected financial information from Fennie's, LLC. Compute the company's inventory turnover for...
Refer to the following selected financial information from Fennie's, LLC. Compute the company's inventory turnover for Year 2 Year Year 2 $32.250 $37,500 90,000 Cash 60,000 Short-term investments 79,500 Accounts receivable, net Merchandise inventory Prepaid expenses 85,500 125,000 121.000 9.700 12,100 338.000 388.000 Plant assets 107.800 Accounts payable Net sales 113.400 676.000 711.000 375,000 390.000 Cost of goods sold 2.5 points Sa Use the following selected information from Farris, LLC to determine the Year 2 and Year 1 common size...
Help Refer to the following selected financial information from McCormik, LLC. Compute the company's current ratio for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 38,300 $ 33,050 98,000 64,000 89, 500 83,500 125,000 129,000 12,900 10,500 392,000 342,000 109,400 111,800 715,000 680,000 394,000 379,000 Multiple Choice 2.43 3.32 Oo oo 218 206
Refer to the following selected financial information from McCormik, LLC. Compute the company's current ratio for Year 2 11:16 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 39,300 $ 34,050 108,000 69,000 94,500 88,500 130,000 134,000 13,900 11,500 397,000 347,000 104,400 116,800 720,000 685,000 399,000 384,000 Multiple Choice & Prov 27 of 30 # Next >
Refer to the following selected financial information from McCormik, LLC. Compute the company's acid test ratio for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Coat of goods sold Year 2 Year 1 $ 37,600 $ 32, 350 91,000 60,500 86,000 80,000 121, 500 125,500 12,200 9,800 388,500 338,500 112,900 108,300 711,500 676,500 390,500 375,500 Multiple Choice 0 0 0 0 0
Refer to the following selected financial information from McCormik, LLC. Compute the company's working capital for Year 2. Year 2 Year 1 Cash $ 39,400 $ 34,150 Short-term investments 109,000 69,500 Accounts 95,000 receivable, net 89,000 Merchandise inventory 130,500 134,500 Prepaid expenses 14,000 11,600 Plant assets 397,500 347,500 Accounts payable 103,900 117,300 Net sales 720,500 685,500 Cost of goods sold 399,580 384,500 Multiple Choice $175,000 $270,000 $189,000 $284,000 $153,500.
Refer to the following selected financial information from McCormik, LLC. Compute the company's accounts receivable turnover for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant asaeta Accounts payable Net sales Cost of goods Bold Year 2 Year 1 $ 39,500 $ 110,000 70,000 95,500 89,500 131,000 135,000 14,100 11,700 398,000 348,000 103, 400 117,00 721,000 686,000 400,000 385,000 Multiple Choice 0 0 6.55 0 0 255. 0 8 .06. 0 0 5.50 0 779
Refer to the following selected financial information from McCormik, LLC. Compute the company's working capital for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses plant assets Accounts payable Net sales Coat of goods sold Year 2 Year 1 3 Зв, 800 $ 33, 550 103,000 66,500 92,000 86,000 127,500 131,500 13, 400 11,000 394,500 344,500 106,900 114, 300 717, 500 602, 500 396,500 301, 500 Multiple Choice o 3175,800. o О 3254,400. o $267,800. o (...
Please explain your work, thank you!!
Refer to the following selected financial information from McCormik, LLC. Compute the company's acid-test ratio for Year 2. Year 2 Year $38,800 33,558 Cash Short-term investments 103,00 66, see Accounts receivable, net 92,000 86,08e Merchandise inventory 127,500 131,500 Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold 13,400 11,000 394, 500 344,500 106,980 114,300 717,500 682,500 396, 5e0 381,5e0
Refer to the following selected financial information from McCormik, LLC. Compute the company's accounts receivable turnover for Year 2. Year 2 Year 1 Cash $ 39,800 $ 33,750 Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold 105,000 67,500 93,000 87,000 128,500 132,500 13,600 11,200 395,500 345,500 105,900 115,300 718,500 683,500 397,500 382,500 10 0 0 0 On December 31 of the current year, the unadjusted trial balance of a...
Refer to the following selected financial information from Fennie's, LLC. Compute the company's inventory turnover for Year 2 Year Year 2 $32.250 $37,500 90,000 Cash 60,000 Short-term investments 79,500 Accounts receivable, net Merchandise inventory Prepaid expenses 85,500 125,000 121.000 9.700 12,100 338.000 388.000 Plant assets 107.800 Accounts payable Net sales 113.400 676.000 711.000 375,000 390.000 Cost of goods sold 2.5 points Sa Use the following selected information from Farris, LLC to determine the Year 2 and Year 1 common size...
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