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Working Capital and Current Ratio The following data (in thousands) were taken from recent financial statements...
The following accounts and amounts (in thousands) were taken from the 2022 financial statements of Grouper...
The following accounts and amounts (in thousands) were taken from the 2022 financial statements of Grouper Instruments, Inc. Common shares Prepaid insurance Equipment Salaries payable Inventory Trading investments Income tax payable $2,500 950 9,395 115 2,115 1,490 30 Cash Accumulated depreciation-equipment Accounts payable Mortgage payable (due 2028) Retained earnings Accounts receivable $1,165 4,150 1,320 1,090 6,890 980 Prepare a classified statement of financial position as at December 31, 2022. (List Current Assets in order of liquidity.) counting - 73348) estion...
Current position analysis The following data were taken from the balance sheet of Nilo Company at...
Current position analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $643,500 $511,200 Marketable securities 847,500 603,200 Accounts and notes receivable (net) 1,043,400 725,600 Inventories 1,301,800 1,049,500 Prepaid expenses 643,800 652,500 Total current assets $4,480,000 $3,542,000 Current liabilities: Accounts and notes payable (short-term) $928,000 $766,700 Accrued liabilities 352,000 383,300 Total current liabilities $1,280,000 $1,150,000 Determine for each year (1) the working...
Selected data from Kamal Company's financial statements is as follows: In $000's 2017 2016 Current liabilities...
Selected data from Kamal Company's financial statements is as follows: In $000's 2017 2016 Current liabilities $ 5,130 $ 5,202 Long-term debt 1,419 1,322 Stockholders' equity 12,632 11,166 Interest and principal payments 300 400 Net income 2,430 2,280 Interest expense 196 172 Income taxes 1,837 1,524 Dividends paid 750 750 Kamal Company's times interest earned ratio for 2017 Select one: A. shows an increase in the company's ability to make its interest payments. B. increased, which indicates the company's creditors...
Jason's Inc. recent financial statements contain the following selected data (in thousands). Current assets $ 4,594,772...
Jason's Inc. recent financial statements contain the following selected data (in thousands). Current assets $ 4,594,772 Current liabilities $1,717,728 Total assets 14,936,030 Total liabilities 2,417,394 Compute the Working Capital, and the Current Ratio for Jason's Inc. Please provide the answer below.
View Policies Current Attempt in Progress The following items were taken from the financial statements of...
View Policies Current Attempt in Progress The following items were taken from the financial statements of Concord Company. (All amounts are in thousands.) $900 850 Long-term debt Prepaid insurance Equipment Stock investments (long-term) Debt investments (short-term) Notes payable (due in 2023) Cash 11,400 abo Accumulated depreciation-equipment Accounts payable Notes payable (due after 2023) Common stock Retained earnings Accounts receivable Inventory $5,600 1,900 500 9,750 3,600 2.100 1,300 3,800 500 2,900 Prepare a classified balance sheet in good form as of...
Jason's Inc. recent financial statements contain the following selected data (in thousands). C...
Jason's Inc. recent financial statements contain the following selected data (in thousands). Current assets $ 4,594,772 Current liabilities $1,717,728 Total assets 14,936,030 Total liabilities 2,417,394 Compute the Working Capital, and the Current Ratio for Jason's Inc. Please provide the answer below.
he following data were taken from the balance sheet of Nilo Company at the end of...
he following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $524,400 $436,800 Marketable securities 607,200 491,400 Accounts and notes receivable (net) 248,400 163,800 Inventories 316,800 95,200 Prepaid expenses 163,200 60,800 Total current assets $1,860,000 $1,248,000 Current liabilities: Accounts and notes payable (short-term) $348,000 $364,000 Accrued liabilities 252,000 156,000 Total current liabilities $600,000 $520,000 a. Determine for each year (1) the working capital, (2)...
Exercise 1 Chapter 4 The following data are taken from the financial statements of Keanan Company...
Exercise 1 Chapter 4 The following data are taken from the financial statements of Keanan Company as of the end of the year 2017. The data are in alphabetical order. Accounts Payable........... $28,000 Profit ....... .................. 48,000 Accounts Receivable ......... 66,000 Supplies ...................... 8,600 Cash 54,000 Total assets ................. 250,000 Other current liabilities ....... 17,000 Total liabilities ................ 200,000 Prepaid Insurance........... 2,000 Wages payable .. 5,000 Instructions a) Calculate Keanan Company's working capital, current ratio, and acid-test ratio. b) Explain...
Current Position Analysis The following data were taken from the balance sheet of Nilo Company at...
Current Position Analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $336,300 $244,800 Marketable securities 389,400 275,400 Accounts and notes receivable (net) 159,300 91,800 Inventories 739,900 466,600 Prepaid expenses 381,100 298,400 Total current assets $2,006,000 $1,377,000 Current liabilities: Accounts and notes payable (short-term) $342,200 $357,000 Accrued liabilities 247,800 153,000 Total current liabilities $590,000 $510,000 a. Determine for each year (1) the...
Current Position Analysis The following data were taken from the balance sheet of Nilo Company at...
Current Position Analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $593,600 $496,000 Marketable securities 687,300 558,000 Accounts and notes receivable (net) 281,100 186,000 Inventories 796,600 567,300 Prepaid expenses 410,400 362,700 Total current assets $2,769,000 $2,170,000 Current liabilities: Accounts and notes payable (short-term) $411,800 $434,000 Accrued liabilities 298,200 186,000 Total current liabilities $710,000 $620,000 a. Determine for each year (1) the...
The following accounts and amounts (in thousands) were taken from the 2022 financial statements of Grouper Instruments, Inc. Common shares Prepaid insurance Equipment Salaries payable Inventory Trading investments Income tax payable $2,500 950 9,395 115 2,115 1,490 30 Cash Accumulated depreciation-equipment Accounts payable Mortgage payable (due 2028) Retained earnings Accounts receivable $1,165 4,150 1,320 1,090 6,890 980 Prepare a classified statement of financial position as at December 31, 2022. (List Current Assets in order of liquidity.) counting - 73348) estion...
View Policies Current Attempt in Progress The following items were taken from the financial statements of Concord Company. (All amounts are in thousands.) $900 850 Long-term debt Prepaid insurance Equipment Stock investments (long-term) Debt investments (short-term) Notes payable (due in 2023) Cash 11,400 abo Accumulated depreciation-equipment Accounts payable Notes payable (due after 2023) Common stock Retained earnings Accounts receivable Inventory $5,600 1,900 500 9,750 3,600 2.100 1,300 3,800 500 2,900 Prepare a classified balance sheet in good form as of...
Exercise 1 Chapter 4 The following data are taken from the financial statements of Keanan Company as of the end of the year 2017. The data are in alphabetical order. Accounts Payable........... $28,000 Profit ....... .................. 48,000 Accounts Receivable ......... 66,000 Supplies ...................... 8,600 Cash 54,000 Total assets ................. 250,000 Other current liabilities ....... 17,000 Total liabilities ................ 200,000 Prepaid Insurance........... 2,000 Wages payable .. 5,000 Instructions a) Calculate Keanan Company's working capital, current ratio, and acid-test ratio. b) Explain...
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