1/Bronco Electronics' current assets consist of cash, marketable securities, accounts receivable, and inventories. The following data...
1/Bronco Electronics' current assets consist of cash, marketable securities, accounts receivable, and inventories. The following data were abstracted from a recent financial statement:
| Inventories | $ | 155,000 |
| Total assets | $ | 1,430,000 |
| Current ratio | 3.3 | |
| Acid-test ratio | 2.30 | |
| Debt to equity ratio | 1.6 | |
Required:
Compute the long-term assets for Bronco:
| Long-term assets |
2/ Bronco Electronics' current assets consist of cash, marketable securities, accounts receivable, and inventories. The following data were abstracted from a recent financial statement:
| Inventories | $ | 170,000 |
| Total assets | $ | 1,520,000 |
| Current ratio | 3.7 | |
| Acid-test ratio | 2.45 | |
| Debt to equity ratio | 1.5 | |
Required:
Compute the long-term liabilities for Bronco:
| Long-term liabilities |
3/ Spartan Sportswear's current assets consist of cash, marketable securities, accounts receivable, and inventories. The following data were abstracted from a recent financial statement:
| Inventories | $ | 170,000 |
| Total assets | $ | 845,000 |
| Current ratio | 3.40 | |
| Acid-test ratio | 1.70 | |
| Debt to equity ratio | 1.60 | |
Required:
Compute the long-term liabilities for Spartan:
| Long-term liabilities |
Homework Answers
Calculation of long-term liabilities
current ratio = 3.3
Current ratio = Current assets/Current liabilities = 3.3
Current assets = 3 Current liabilities
Quick ratio = 2.30
Quick assets = Quick assets/Current liabilities = 2.30
Quick assets = 2.30 Current liabilities
Quick assets = Current assets - Inventory
2.30 Current liabilities = 3 Current liabilities = $155,000
155,000 = 0.7 Current liabilities
Current liabilities = 221,429(rounded)
Current assets = 3 Current liabilities
= 3* 221,429
= 664,287(rounded)
Total debt + Total equity = Total assets
Debt equity ratio = 1.6
Total debt/Share holders equity = 1.6
Debt = 1.6 Share holders equity
1.6 Shareholders equity + 1Equity = 1430000
2.6 Shareholders equity = 1430000
Shareholders equity = 550000
Total assets = Total liabilities + Shareholders equity
$1430000 = Current liabilities + Long-term liabilities + Shareholders equity
1430000 = $221429 + Long-term liabilities + 550000
Long-term liabilities = 658571(rounded)
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1/Bronco Electronics' current assets consist of cash, marketable
securities, accounts receivable, and inventories. The following
data...
1/Bronco Electronics' current assets consist of cash, marketable securities, accounts receivable, and inventories. The following data...
1/Bronco Electronics' current assets consist of cash, marketable securities, accounts receivable, and inventories. The following data were abstracted from a recent financial statement: Inventories $ 155,000 Total assets $ 1,430,000 Current ratio 3.3 Acid-test ratio 2.30 Debt to equity ratio 1.6 Required: Compute the long-term assets for Bronco: Long-term assets 2/ Bronco Electronics' current assets consist of cash, marketable securities, accounts receivable, and inventories. The following data were abstracted from a recent financial statement: Inventories $ 170,000 Total assets $...
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