Question

Problem 2-7 (LO2.2) Carl Lester has liquid assets of $3,110 and current liabilities of $3,186. What is his current ratio? (Round your answer to 2 decimal places.) Current ratio References eBook& Resources Worksheet Difficulty: Basic Problem 2-7 (LO2.2) Learning Objective: 02-02 Create a personal balance sheet and cash flow statement
0 0
Add a comment Improve this question Transcribed image text
Answer #1

current ratio = current asset /current liabilities

               = 3110 / 3186

              = .98 : 1

Add a comment
Know the answer?
Add Answer to:
Problem 2-7 (LO2.2) Carl Lester has liquid assets of $3,110 and current liabilities of $3,186. What...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • value: 2.00 points Problem 2-8 (LO2.2) For the following situations, calculate the cash surplus or deficit....

    value: 2.00 points Problem 2-8 (LO2.2) For the following situations, calculate the cash surplus or deficit. (Input all amounts as positive values.) Cash Inflows Cash Outflows Difference Surplus/Defici 3,545 $ 4,935 $ 4,379 $ 3,343 $4,983 $ 4,303 (Click to select) (Click to select) (Click to select) References eBook&Resources Worksheet Difficulty: Basic Problem 2-8 (LO2.2) Learning Objective: 02-02 Create a personal balance sheet and cash flow statement

  • Problem 2-13 (LO2.4) Brenda plans to reduce her spending by $85 a month. What would be...

    Problem 2-13 (LO2.4) Brenda plans to reduce her spending by $85 a month. What would be the future value of this reduced spending over the next 10 years? (Assume an annual deposit to her savings account, and an annual interest rate of 4 percent.) Use Exhibit 1-B. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Future value References eBook &Resources Worksheet Difficulty: Basic Problem 2-13 (LO2.4) Learning Objective: 02-04 Connect money management activities...

  • A firm has current assets that could be sold for their book value of $34 million....

    A firm has current assets that could be sold for their book value of $34 million. The book value of its fixed assets is $72 million, but they could be sold for $102 million today. The firm has total debt with a book value $52 million, but interest rate declines have caused the market value of the debt to increase to $62 million. What is the ratio of the market value of equity to its book value? (Round your answer...

  • Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September...

    Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2015) a. Borrowed $18,296 from banks due in two years b. Purchased additional investments for $23,800 cash, one-fifth were long term and the rest were short term. C. Purchased property, plant, and equipment, paid $9,603 in cash and signed a short-term note for $1,440 d. Issued additional shares of common stock for $1,500 in cash, total par value wos $1 and the rest...

  • Need help with part B sum HW1 Problem 2-13 Market Values and Book Values [LO 1)...

    Need help with part B sum HW1 Problem 2-13 Market Values and Book Values [LO 1) Klingon Widgets, Inc., purchased new cloaking machinery three years ago for $5.8 million. The machinery can be sold to the Romulans capital of $148,000. If all the current accounts were liquidated today, the company would receive $ What is the book value of Klingon's total assets today? (Enter your answer in dollars, not millions of dollars, e.g. 1,234,567. Do not for $8 million. Klingon's...

  • Question 6 (of 19) 10.00 points Problem 11-3 Scenario Analysis [LO2 Sloan Transmissions, Inc., has the...

    Question 6 (of 19) 10.00 points Problem 11-3 Scenario Analysis [LO2 Sloan Transmissions, Inc., has the following estimates for its new gear assembly project price # $3,000 per unit variable costs $800 per unit, fixed costs $1.8 million; quantity 90,000 units. Suppose the company believes all of its estimates are accurate only to within 120 percent. What values should the company use for the four variables given here when it performs its best-case scenario analysis? what about the worst-case scenario?...

  • A company has liquid assets of $600,000 and current liabilities of $500,000. What is the effect...

    A company has liquid assets of $600,000 and current liabilities of $500,000. What is the effect on the quick ratio if the company records an accrual adjustment for salaries of $100,000 and pays accounts payable in the amount of $50,000? a. The quick ratio will not change as a result of either of these transactions. b. The accrual adjustment will cause the quick ratio to decrease and the payment of accounts payable will cause an increase in the quick ratio....

  • 4. If sales increase to 1,001 units, what would be the increase in net operating income?...

    4. If sales increase to 1,001 units, what would be the increase in net operating income? (Round your answer to 2 decimal places. Increase in net operating income Required Information The following information applies to the questions displayed below! References eBook & Resources Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units the relevant range of production is 500 units to 1500 Worksheet units Learning Objective: 03-03 U margin ratio (CM ratio)...

  • On January 1f this ycar, Olive Corporation issucd bands. Interest is payable once a year on...

    On January 1f this ycar, Olive Corporation issucd bands. Interest is payable once a year on December pertains to the bonds 1. The bonds mature st the end of four years. Olive uses the effective interest aTortization method. The partial ly completed amortization schedule below Cesh Amortizalion Dale Interest Balance January 1. Year 42,734 $ 2,393 7 $ 2,562 S 169 42387 End of Year 2 7 Farl of Ya 42.000 363 Required information 10.00 points Required: 1. Complete the...

  • 13. Using the degree of operating leverage, what is the estimated percent increase in net operating...

    13. Using the degree of operating leverage, what is the estimated percent increase in net operating income of decimal places 1.0.1234 should be entered as 12,34). increase in Doeti c Ro e increnin net operating in conte Required Information The following i n the e yed De References eBook & Resources Oslo Company prepared the following corbution forma com m ent besed on a les volume of 1000 units the relevant range of productions 500 1500 Worksheet Learning Objective: 03-03...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT