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Find the current ratio and show the numerator and denominator
in ratio calculation
Assets Cash Accounts...
Homework QS 3-25 Identifying current accounts and computing the current ratio LO A2 Accounts receivable Accounts...
Homework QS 3-25 Identifying current accounts and computing the current ratio LO A2 Accounts receivable Accounts payable Buildings Cash $27,500 Long-term notes payable 15,600 office supplies 57,000 Prepaid insurance 7,700 Unearned services revenue $34,000 2,500 5,080 3,800 1:35 Compute Chavez Company's current ratio using the above information Current Ratio Choose Denominator: Choose Numerator: Current assets 1 1 Current Ratio Current ratio YE
Assets 2017 2018 Current assets Cash Accounts receivable Inventory JUST DEW IT CORPORATION 2017 and 2018...
Assets 2017 2018 Current assets Cash Accounts receivable Inventory JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 15,120 Accounts payable $ 61,600 25,200 Notes payable 14,400 89,040 $ 7,400 23,400 76,200 $ 62,160 18,240 Total $ 107,000 $ 129,360 Total $ 76,000 $ 80,400 $ 48,000 $ 36,000 Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings $ 60,000 216,000 $ 60,000 303,600 Net plant and equipment $293,000...
Assets 2017 2018 2018 Current assets Cash Accounts receivable Inventory $ 24,236 14,348 27,892 $ 26,000...
Assets 2017 2018 2018 Current assets Cash Accounts receivable Inventory $ 24,236 14,348 27,892 $ 26,000 17,100 29.000 $ 72,100 Liabilities and Owners' Equity 2017 Current liabilities Accounts payable $ 25,084 Notes payable 19,000 Other 13,471 $ 29,000 12,700 18,300 Total $ 66,476 Total $ 57,555 $ 60,000 $ 87,698 Long-term debt $ 88,000 S 45.000 Owners' equity Common stock and paid-in surplus Accumulated retained earnings $ 45,000 219,616 244,302 Fixed assets Net plant and equipment $343,695 $364 900 Total...
Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net...
Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 31,050 92,720 116,577 9,898 281,344 $531,589 $ 35,561 $ 36, 324 64,799 48,927 86,475 52, 102 9,816 4,036 261,615 233, 011 $ 458,266 $ 374,400 $133,689 $ 78,221 $...
Credits Debits $ 55,000 39,000 45,000 15,000 100,000 Account Title Cash Accounts receivable Inventories Prepaid insurance...
Credits Debits $ 55,000 39,000 45,000 15,000 100,000 Account Title Cash Accounts receivable Inventories Prepaid insurance Equipment Accumulated depreciation equipment Patent, net Accounts payable Interest payable Note payable (due in 10, equal annual installments) Common stock Retained earnings Totals $ 34,000 40,000 12,000 2,000 100,000 70,000 76,000 $ 294,000 $294,000 a. Calculate the current ratio. b. Calculate the acid-test ratio. c. Calculate the debt to equity ratio. Current Ratio Numerator Current Assets 154,000 $ 24,000 6.42 Denominator Current Liabilities Acid-Test...
Assets $ Liabilities $ Current Assets Current Liabilities Cash 12,000 Accounts payable 28,500 Cash at bank...
Assets $ Liabilities $ Current Assets Current Liabilities Cash 12,000 Accounts payable 28,500 Cash at bank 7,000 Wages payable 7,000 Accounts receivable 35,000 Taxes payable 12,000 Inventory 30,500 Interest payable 15,000 Prepayments 3,300 Total current assets 87,800 Total current liabilities 62,500 Investments 25,000 Long-Term Liabilities Bank loan 335,000 Notes payable 15,000 Long-term liabilities 350,000 Property, Plant, and Equipment Total Liabilities 412,800 Land and building 156,000 Equipment 1,85,000 Less: Depreciation (63,000) 278,000 Stockholders’ Equity Intangible Assets Common stock 100,000 Goodwill 120,000...
Need help on the numerator & denominator Required information [The following information applies to the questions...
Need help on the numerator & denominator
Required information [The following information applies to the questions displayed below.] The following financial statements and additional information are reported. IKIBAN INC Comparative Balance Sheets June 30, 2019 and 2018 2019 2018 Assets $ 94,300 $ 66,000 73,000 119,500 9,800 268,300 137,000 Cash Accounts receivable, net Inventory Prepaid expenses 98,000 85,800 6,600 284,700 146,000 (38,000) Total current assets Equipment Accum. depreciation-Equipment (20,000) $385,300 $392,700 Total assets Liabilities and Equity Accounts payable Wages payable...
Saved ment Assets 2017 2018 Current assets Cash Accounts receivable Inventory JUST DEW IT CORPORATION 2017...
Saved ment Assets 2017 2018 Current assets Cash Accounts receivable Inventory JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 18,260 Accounts payable $ 58,400 23,100 Notes payable 23.400 54,780 $ 96,140 Total $ 81,800 $ 14,200 19,000 51,800 $ 61,820 25,080 $ 86,900 Total $ 85,000 $ 22,000 Long-term debt $ 32,000 Owners' equity Common stock and paid-in $ 44,000 surplus Retained earnings 242,200 $ 44,000 287,100 Total $286,200 $...
At December 31 2017 2016 2015 Assets Cash $ 33,338 $ 40,138 $38,236 Accounts receivable, net...
At December 31 2017 2016 2015 Assets Cash $ 33,338 $ 40,138 $38,236 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 93,724 125,129 10,521 68,195 91,016 10,127 277,632 53,582 55,403 4,422 242,457 $565,045 $487,108 394,100 302,333 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings $140,696 $ 82,321 50,461 112,035 162,500 130,252 $565,045 $487,108 394,100 109,415 162,500 152,434 85,354 162,500 95,785 Total liabilities and...
Simon Company's year-end balance sheets follow. At December 3 Assets Cash Accounts receivable, net Merchandise inventory...
Simon Company's year-end balance sheets follow. At December 3 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 2013 $ 30,048 $ 36,542 $ 36,960 89,72663,94849,777 107,283 82,862 55,155 9,406 277,301250,712 231,184 10,067 4,024 Total assets $514,425 $443,470 $ 377,100 Liabilities and Equity Accounts payable Long-term notes payable secured by $128,092 $ 73,448 $ 50,773 mortgages on plant assets Common stock, $10 par valuee Retained earnings 98,646100,978 82,506 162,500 162,500162,500 125,187 106,544 81,321 Total liabilities and equity...
Homework QS 3-25 Identifying current accounts and computing the current ratio LO A2 Accounts receivable Accounts payable Buildings Cash $27,500 Long-term notes payable 15,600 office supplies 57,000 Prepaid insurance 7,700 Unearned services revenue $34,000 2,500 5,080 3,800 1:35 Compute Chavez Company's current ratio using the above information Current Ratio Choose Denominator: Choose Numerator: Current assets 1 1 Current Ratio Current ratio YE
Assets 2017 2018 Current assets Cash Accounts receivable Inventory JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 15,120 Accounts payable $ 61,600 25,200 Notes payable 14,400 89,040 $ 7,400 23,400 76,200 $ 62,160 18,240 Total $ 107,000 $ 129,360 Total $ 76,000 $ 80,400 $ 48,000 $ 36,000 Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings $ 60,000 216,000 $ 60,000 303,600 Net plant and equipment $293,000...
Assets 2017 2018 2018 Current assets Cash Accounts receivable Inventory $ 24,236 14,348 27,892 $ 26,000 17,100 29.000 $ 72,100 Liabilities and Owners' Equity 2017 Current liabilities Accounts payable $ 25,084 Notes payable 19,000 Other 13,471 $ 29,000 12,700 18,300 Total $ 66,476 Total $ 57,555 $ 60,000 $ 87,698 Long-term debt $ 88,000 S 45.000 Owners' equity Common stock and paid-in surplus Accumulated retained earnings $ 45,000 219,616 244,302 Fixed assets Net plant and equipment $343,695 $364 900 Total...
Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 31,050 92,720 116,577 9,898 281,344 $531,589 $ 35,561 $ 36, 324 64,799 48,927 86,475 52, 102 9,816 4,036 261,615 233, 011 $ 458,266 $ 374,400 $133,689 $ 78,221 $...
Credits Debits $ 55,000 39,000 45,000 15,000 100,000 Account Title Cash Accounts receivable Inventories Prepaid insurance Equipment Accumulated depreciation equipment Patent, net Accounts payable Interest payable Note payable (due in 10, equal annual installments) Common stock Retained earnings Totals $ 34,000 40,000 12,000 2,000 100,000 70,000 76,000 $ 294,000 $294,000 a. Calculate the current ratio. b. Calculate the acid-test ratio. c. Calculate the debt to equity ratio. Current Ratio Numerator Current Assets 154,000 $ 24,000 6.42 Denominator Current Liabilities Acid-Test...
Need help on the numerator & denominator
Required information [The following information applies to the questions displayed below.] The following financial statements and additional information are reported. IKIBAN INC Comparative Balance Sheets June 30, 2019 and 2018 2019 2018 Assets $ 94,300 $ 66,000 73,000 119,500 9,800 268,300 137,000 Cash Accounts receivable, net Inventory Prepaid expenses 98,000 85,800 6,600 284,700 146,000 (38,000) Total current assets Equipment Accum. depreciation-Equipment (20,000) $385,300 $392,700 Total assets Liabilities and Equity Accounts payable Wages payable...
Saved ment Assets 2017 2018 Current assets Cash Accounts receivable Inventory JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 18,260 Accounts payable $ 58,400 23,100 Notes payable 23.400 54,780 $ 96,140 Total $ 81,800 $ 14,200 19,000 51,800 $ 61,820 25,080 $ 86,900 Total $ 85,000 $ 22,000 Long-term debt $ 32,000 Owners' equity Common stock and paid-in $ 44,000 surplus Retained earnings 242,200 $ 44,000 287,100 Total $286,200 $...
At December 31 2017 2016 2015 Assets Cash $ 33,338 $ 40,138 $38,236 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 93,724 125,129 10,521 68,195 91,016 10,127 277,632 53,582 55,403 4,422 242,457 $565,045 $487,108 394,100 302,333 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings $140,696 $ 82,321 50,461 112,035 162,500 130,252 $565,045 $487,108 394,100 109,415 162,500 152,434 85,354 162,500 95,785 Total liabilities and...
Simon Company's year-end balance sheets follow. At December 3 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 2013 $ 30,048 $ 36,542 $ 36,960 89,72663,94849,777 107,283 82,862 55,155 9,406 277,301250,712 231,184 10,067 4,024 Total assets $514,425 $443,470 $ 377,100 Liabilities and Equity Accounts payable Long-term notes payable secured by $128,092 $ 73,448 $ 50,773 mortgages on plant assets Common stock, $10 par valuee Retained earnings 98,646100,978 82,506 162,500 162,500162,500 125,187 106,544 81,321 Total liabilities and equity...
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