ZuoTi.Pro
Question

Erastic Corporation has $21,000 in cash, $11,500 in marketable securities, $44,500 in account receivable, $54,000 in InventorMcRae Corporations total current assets are $424,000, its noncurrent assets are $533,000, its total current liabilities areCalin Corporation has total current assets of $637,000, total current liabilities of $247,000, total stockholders equity of

business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

1.) Acid test ratio :

Acid test ratio = Current Assets(except inventory)/Current Liabilities

= cash + marketable securities + accounts receivables / Current Liabilities

= 21000 + 11500 + 44500 / 49000

= 1.57

2.) Working Capital :

Working Capital = Current Assets - Current Liabilities

= $ 424,000 - $ 362,000

= $ 62,000

3.) Working Capital :

Working Capital = Current Assets - Current Liabilities

= $ 637,000 - $ 247,000

= $ 390,000

0 0
Add a comment
Know the answer?
Add Answer to:
Erastic Corporation has $21,000 in cash, $11,500 in marketable securities, $44,500 in account receivable, $54,000 in...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

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

  • Erastic Corporation has $17,000 in cash, $9,500 in marketable securities, $38,500 in account receivable, $46,000 in...

    Erastic Corporation has $17,000 in cash, $9,500 in marketable securities, $38,500 in account receivable, $46,000 in inventories, and $45,000 in current liabilities. The corporation’s current assets consist of cash, marketable securities, accounts receivable, and inventory. The corporation’s acid-test ratio is closest to: Multiple Choice 2.47 1.23 0.86 1.44

  • Erastic Corporation has $30,000 in cash, $16,000 in marketable securities, $58,000 in account receivable, $72,000 in...

    Erastic Corporation has $30,000 in cash, $16,000 in marketable securities, $58,000 in account receivable, $72,000 in inventories, and $58,000 in current liabilities. The corporation’s current assets consist of cash, marketable securities, accounts receivable, and inventory. The corporation’s acid-test ratio is closest to: 1.00 1.52 1.79 3.03

  • Dennisport Corporation has an acid-test ratio of 1.6. It has current liabilities of $52,000 and noncurrent...

    Dennisport Corporation has an acid-test ratio of 1.6. It has current liabilities of $52,000 and noncurrent assets of $82,000. The corporation's current assets consist of cash, marketable securities, accounts receivable, prepaid expenses, and Inventory. If Dennisport's current ratio is 1.8, its inventory and prepaid expenses must be: Multiple Choice Ο $11,600 Ο $10.400 Ο $54,000 Ο S48,000

  • The following information is available on Bruder Inc.'s Product A: Number of units sold each year...

    The following information is available on Bruder Inc.'s Product A: Number of units sold each year Selling price per unit Unit product cost Investment in Product A Required return on investment 19,000 $ 100 $ 70 $490,000 15% The company uses the absorption costing approach to cost-plus pricing described in the text. Based on these data, the total selling and administrative expenses each year are: (Round your Intermediate calculations to 2 decimal places.) į Multiple Choice 0 $239,000 0 $840,000...

  • The Seabury Corporation has a current ratio of 3.6 and an acid-test ratio of 2.4. The...

    The Seabury Corporation has a current ratio of 3.6 and an acid-test ratio of 2.4. The corporation's current assets consist of cash. marketable securities, accounts receivable, and inventories. Inventory equals $84,000. Seabury Corporation's current liabilities must be: (Round your intermediate calculations to 1 decimal place.) Multiple Choice Ο 5168,000 Ο $84,000 Ο $100,800 Ο ( 570,000

  • Stimac Corporation has total cash of $255,000, no marketable securities, total current receivables of $326,000, total...

    Stimac Corporation has total cash of $255,000, no marketable securities, total current receivables of $326,000, total inventory of $169,000, total prepaid expenses of $62,000, total current assets of $812,000, total current liabilities of $288,000, total stockholders’ equity of $1,914,000, total assets of $2,765,000, and total liabilities of $851,000. The company’s acid-test (quick) ratio is closest to:

  • Transic Corporation has the following financial data for 2016 and 2017. 2017 2016 ASSETS Current Assets:...

    Transic Corporation has the following financial data for 2016 and 2017. 2017 2016 ASSETS Current Assets: Cash $ 48,000 $ 14,000 Marketable Securities 9,000 13,000 Accounts Receivable 35,000 24,000 Other Current Assets 15,000 18,000 Total Current Assets 107,000 69,000 Fixed Assets (net) 140,000 130,000 Total Assets $247,000 $199,000 LIABILITIES Current Liabilities $ 72,000 $ 52,000 Long-term Liabilities 50,000 37,000 Total Liabilities $122,000 $ 89,000 Total Stockholders' Equity $125,000 $110,000 Total Liabilities And Stockholders' Equity $247,000 $199,000 What is Transic's working...

  • 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/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 $...

  • Question 8 of 2020 2021 Current assets Cash and cash equivalents Accounts receivable, net Inventory Marketable...

    Question 8 of 2020 2021 Current assets Cash and cash equivalents Accounts receivable, net Inventory Marketable equity securities Total current assets Plant & equipment, net Total assets $ 19000 $ 17900 23000 27000 28000 26000 5300 5330 75300 76230 60700 36770 $136000 $113000 Current liabilities Noncurrent liabilities Total liabilities Total stockholders' equity Total liabilities and stockholders' equity $23000 $33000 63000 43053 86000 76053 50000 36947 $136000 $113000 Calculate the current ratio for 2021.

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