Homework Answers
Current assets=Cash+AR+inventory
=(100,000+327,000+486,000)=$913000
Current ratio=Current assets/Current Liabilities
=913000/451,000=2.02:1(Approx).
Quick ratio=(Current assets-inventory)/Current Liabilities
=(913000-486,000)/451,000=0.95:1(Approx)
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Problem 9-08 Given the following information, compute the current and quick ratios: Cash $ Accounts receivable...
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Compute the following ratios: (Use a 360-day year. Do
not round intermediate calculations. Round your answers to 2
decimal places. Input your debt-to-total assets answer as a percent
rounded to 2 decimal places.)
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prepaid expenses = $50,000
Problem 3 Calculate the following information: 1. Quick ratio 2. Accounts receivable turnover ratio 3. Net return on total assets 4. Total liabilities to total assets ratio 5. Times interest earned ratio 6. Return on sales 7. Return on equity Sales: $750,000 Cash: $50,000 Inventory: $150,000 Common Stock: $100,000 Accounts Payable: $100,000 Prepaid expenses: $50,000 Long term debt: $200,000 Land and Building: $500,000 Operating Income: $450,000 Taxes: $200,000 Accounts Receivable: $70,000 Retained Earnings: $400,000 Cost of...
(prepaid expenses are $50,000)
Problem 3 Calculate the following information: 1. Quick ratio 2. Accounts receivable turnover ratio 3. Net return on total assets 4. Total liabilities to total assets ratio 5. Times interest earned ratio 6. Return on sales 7. Return on equity Sales: $750,000 Cash: $50,000 Inventory: $150,000 Common Stock: $100,000 Accounts Payable: $100,000 Prepaid expenses: $50,000 Long term debt: $200,000 Land and Building: $500,000 Operating Income: $450,000 Taxes: $200,000 Accounts Receivable: $70,000 Retained Earnings: $400,000 Cost of...
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