The balance sheet for Fanning Corporation follows: Current assets 237,000 Long-term assets (net) 757,000 Total assets...
The balance sheet for Fanning Corporation follows:
Current assets 237,000
Long-term assets (net) 757,000
Total assets $994,000
Current liabilities $146,000
Long-term liabilities 443,000
Total liabilities 589,000
Common stock and retained earnings 405,000
Total liabilities and stockholders' equity $994,000
Compute the following. (Round "Ratios" to 1 decimal place.)
Working capital
Current ratio
Debt to assets ratio
Debt to equity ratio
Homework Answers
Answer)
Facts of the Question:
|
Assets |
Amount (In $) |
|
Current Assets |
237,000 |
|
Long-term Assets |
757,000 |
|
Total Assets |
994,000 |
|
Liabilities |
Amount (In $) |
|
Current Liabilities |
146,000 |
|
Long-term Liabilities |
443,000 |
|
Common Stock and retained earnings |
405,000 |
|
Total Liabilities and stockholders' equity |
994,000 |
Calculation of Working Capital
Working capital = Current Assets – Current liabilities
= $ 237,000 - $ 146,000
= $ 91,000.
Therefore the value of working capital of the company is $ 91,000.
Calculation of Current Ratio
Current Ratio = Current Assets / Current liabilities
= $ 237,000/$ 146,000
= 1.62 times or 1.60 (rounded off)
Therefore the Current ratio of the company is 1.60 times.
Calculation of Debt to Assets Ratio
Debt to Assets Ratio = Total Debt/ Total Assets
= (Current Liabilities + Long-term Liabilities)/(Current Assets + Long Term Assets)
= ($ 146,000 + $ 443,000)/ ($ 237,000 + $ 757,000)
= $ 589,000/ $994,000
= 0.59 times or 0.60 times (rounded off)
Therefore the Debt to Assets ratio of the company is 0.60 times.
Calculation of Debt to Equity Ratio
Debt to Assets Ratio = Total Debt/ Total Shareholders’ Equity
= (Current Liabilities + Long-term Liabilities)/ Total Shareholders’ Equity
= ($ 146,000 + $ 443,000)/ $ 405,000
= $ 589,000/ $ 405,000
= 1.45 times or 1.50 times (rounded off)
Therefore the Debt to Equity ratio of the company is 1.50 times.
Add Answer to:
The balance sheet for Fanning Corporation follows:
Current assets 237,000
Long-term assets (net) 757,000
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Q.9 The balance sheet for Solomon Corporation follows: Current assets $ 237,000 Long-term assets (net) 752,...
Q.9
The balance sheet for Solomon Corporation follows:
Current assets
$
237,000
Long-term assets (net)
752,000
Total assets
$
989,000
Current liabilities
$
156,000
Long-term liabilities
450,000
Total liabilities
606,000
Common stock and retained earnings
383,000
Total liabilities and stockholders’ equity
$
989,000
Required
Compute the following. (Round "Ratios" to 1 decimal
place.)
Working capital Current ratio Debt-to-assets ratio Debt-to-equity ratio
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Can you check my work?
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The balance sheet for Fanning Corporation follows: Current assets $232,000 763,000 Long-term assets (net) Total assets $995,000 Current liabilities $153,000 460,000 613,000 382,000 Long-term liabilities Total liabilities Common stock and retained earnings Total liabilities and stockholders' equity $995,000 Required Compute the following. (Round "Ratios" to 1 decimal place.) Working capital Current ratio % Debt to assets ratio Debt to equity ratio
Q.9
The balance sheet for Solomon Corporation follows:
Current assets
$
237,000
Long-term assets (net)
752,000
Total assets
$
989,000
Current liabilities
$
156,000
Long-term liabilities
450,000
Total liabilities
606,000
Common stock and retained earnings
383,000
Total liabilities and stockholders’ equity
$
989,000
Required
Compute the following. (Round "Ratios" to 1 decimal
place.)
Working capital Current ratio Debt-to-assets ratio Debt-to-equity ratio
The balance sheet for Munoz Corporation follows: Current assets Long-term assets (net) Total assets Current liabilities Long-term liabilities Total liabilities Common stock and retained earnings Total liabilities and stockholders' equity $ 235,000 762,000 $997,000 $160,000 457,000 617,000 380,000 $997,000 Required Compute the following. (Round "Ratios" to 1 decimal place.) ace Working capital Current ratio Debt to assets ratio Debt to equity ratio
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The balance sheet for Jordan Corporation follows: Current as sets $ 250,000 766,000 Long-term assets (net) Total assets $1,016,000 Current liabilities $ 155,000 445,000 600,000 416,000 Long-term liabilities Total liabilities Common stock and retained earnings Total liabilities and stockholders' equity $1,016,000 Required Compute the following. (Round "Ratios" to 1 decimal place.) Working capital Current ratio % Debt to assets ratio Debt to equity ratio
Can you check my work?
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