Homework Answers
Current Ratio = Current Assets - Current Liabilities
Current Assets = Cash + Short term Investments + Accounts Receivable + Inventory + PPd Expenses
Current Assets = $58,660 + $14,500 + $59,000 +280,000 + 9,640
Current Assets = $421,800
Current Liabilities = Accounts Payable + Other current payables
Current Liabilities = $108,500 + $32,100
Current Liabilities = $140,600
Current Ratio = Current Assets / Current Liabilities
Current Ratio = $421,800 / $140,600
Current Ratio = 3
Quick Assets = Current Assets - Inventory - Prepaid Expenses
Quick Assets = $421,800 - $280,000 - $9,640
Quick Assets = $132,160
Acid-Test ratio = Quick Assets / Current Liabilities
Acid-Test ratio = $132,160 / $140,600
Acid-Test ratio = 0.94
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Using the following year-end information for Calvin's Clothing, calculate the current ratio and acid-test ratio for...
Using the following year-end information for Calvin's Clothing, calculate the current ratio and acid-test ratio for...
Using the following year-end information for Calvin's Clothing, calculate the current ratio and acid-test ratio for the business: Cash Short-term investments Accounts receivable Inventory Prepaid expenses Accounts payable Other current payables $ 51,680 8,000 46,000 150,000 8,520 102,000 30,100 Multiple Choice 1.00 and 1.00 0.50 and 1.25 < Prey 3 of 3 !!! Next > .pdf
Using the following year-end information for Calvin’s Clothing, calculate the current ratio and acid-test ratio for...
Using the following year-end information for Calvin’s Clothing, calculate the current ratio and acid-test ratio for the business: Cash $ 51,680 Short-term investments 8,000 Accounts receivable 46,000 Inventory 150,000 Prepaid expenses 8,520 Accounts payable 102,000 Other current payables 30,100 rev: 07_10_2018_QC_CS-131052 1.00 and 1.25 .50 and 1.25 2.50 and 1.25 2.00 and 0.80 1.00 and 0.80
Using the following year-end information for Bauman, LLC, calculate the current ratio and acid-test ratio: Cash Sh...
Using the following year-end information for Bauman, LLC, calculate the current ratio and acid-test ratio: Cash Short-term investments Accounts receivable Inventory Prepaid expenses Accounts payable Other current payables $70,200 12,800 49,500 242,000 18,000 100,500 28,000 Multiple Choice O 3.05 and 0.33 Ο. 3.05 and 1.03. Ο 2.91 and 97. Ο Ο 117 and 3.91. Ο 97 and 3.05.
Using the following year-end information for WorkFit calculate the acid-test ratio: Cash Short-term investments Accounts receivable...
Using the following year-end information for WorkFit calculate the acid-test ratio: Cash Short-term investments Accounts receivable Inventory Supplies Accounts payable Wages payable $ 57,130 13,000 56,000 250,000 5,020 107,000 31,600 Multiple Choice O 0.50 0.41 O 0.53 O 0.91 0.77
For gee-whiz devices calculate the following: working capital, current ratio, and acid-test ratio. 2-29 For Gee-Whiz...
For gee-whiz devices calculate the following: working capital,
current ratio, and acid-test ratio.
2-29 For Gee-Whiz Devices calculate the following working capital, current ratio, and acid-test ratio Gee-Whiz Devices Balance Sheet Data Cash Market securities Net accounts and notes receivable Retailers inventories Prepaid expenses Accounts and notes payable (short-term) Accrued expenses $100,000 45,000 150,000 200,000 8,000 315,000 90,000
Instructions For 2017 and 2018, calculate current ratio, quick (acid-test) ratio, inventory turnover and days' inventory...
Instructions For 2017 and 2018, calculate current ratio, quick (acid-test) ratio, inventory turnover and days' inventory outstanding (DIO), accounts receivable turnover, days' sales in average receivables or days' sales outstanding (DSO), accounts payable turnover, days' payable outstanding (DPO), and cash conversion cycle (in days). a. Use the cost of goods sold in the formula for accounts payable turnover. b. Use a 365-day year for calculations as needed. c. Use cell references from prior calculations, if applicable. (Always use cell references...
Instructions For 2017 and 2018, calculate current ratio, quick (acid-test) ratio, inventory turnover and days' inventory...
Instructions For 2017 and 2018, calculate current ratio, quick (acid-test) ratio, inventory turnover and days' inventory outstanding (DIO), accounts receivable turnover, days' sales in average receivables or days' sales outstanding (DSO), accounts payable turnover, days' payable outstanding (DPO), and cash conversion cycle (in days). a. Use the cost of goods sold in the formula for accounts payable turnover. b. Use a 365-day year for calculations as needed. c. Use cell references from prior calculations, if applicable. (Always use cell references...
Short-Term Solvency Ratios (Liquidity Rations) 1. Calculate current ratio and quick/liquid/acid test ratio from the following:...
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Compute the current ratio and acid-test ratio for each of the following separate cases Torino $...
Compute the current ratio and acid-test ratio for each of the following separate cases Torino $ 2,450240 $1,300 400 550 2,200 2,040 3,100 900 6,250 Camaro GTO Cash Short-term investments Current receivables Inventory Prepaid expenses Total current assets 520 700 $ 5,220 $ 3,50 270 300 Current liabilities $ 2,240 1,330 3,600 urrent Ratio Choose Numerator: Choose Denominator: Current Ratio Current ratio Camaro GTO Torino to 1 cid-Test Ratio Choose Numerator: Choose Denominator: Acid-Test Ratio Acid-test ratio Camaro GTO Torino...
5. Calculate the quick ratio (acid test ratio) for a company given the following information: Cash A/R (net) Invent...
5. Calculate the quick ratio (acid test ratio) for a company given the following information: Cash A/R (net) Inventory Short term investments Fixed Assets (net) Long-term investments $10,000 $12,000 $30,000 $25,000 $115,000 $150,000 Accounts Payable $10,000 Other Short term liabilities: $27,000 Long-term liabilities: $50,000
Using the following year-end information for Calvin's Clothing, calculate the current ratio and acid-test ratio for the business: Cash Short-term investments Accounts receivable Inventory Prepaid expenses Accounts payable Other current payables $ 51,680 8,000 46,000 150,000 8,520 102,000 30,100 Multiple Choice 1.00 and 1.00 0.50 and 1.25 < Prey 3 of 3 !!! Next > .pdf
Using the following year-end information for Bauman, LLC, calculate the current ratio and acid-test ratio: Cash Short-term investments Accounts receivable Inventory Prepaid expenses Accounts payable Other current payables $70,200 12,800 49,500 242,000 18,000 100,500 28,000 Multiple Choice O 3.05 and 0.33 Ο. 3.05 and 1.03. Ο 2.91 and 97. Ο Ο 117 and 3.91. Ο 97 and 3.05.
Using the following year-end information for WorkFit calculate the acid-test ratio: Cash Short-term investments Accounts receivable Inventory Supplies Accounts payable Wages payable $ 57,130 13,000 56,000 250,000 5,020 107,000 31,600 Multiple Choice O 0.50 0.41 O 0.53 O 0.91 0.77
For gee-whiz devices calculate the following: working capital,
current ratio, and acid-test ratio.
2-29 For Gee-Whiz Devices calculate the following working capital, current ratio, and acid-test ratio Gee-Whiz Devices Balance Sheet Data Cash Market securities Net accounts and notes receivable Retailers inventories Prepaid expenses Accounts and notes payable (short-term) Accrued expenses $100,000 45,000 150,000 200,000 8,000 315,000 90,000
Instructions For 2017 and 2018, calculate current ratio, quick (acid-test) ratio, inventory turnover and days' inventory outstanding (DIO), accounts receivable turnover, days' sales in average receivables or days' sales outstanding (DSO), accounts payable turnover, days' payable outstanding (DPO), and cash conversion cycle (in days). a. Use the cost of goods sold in the formula for accounts payable turnover. b. Use a 365-day year for calculations as needed. c. Use cell references from prior calculations, if applicable. (Always use cell references...
Instructions For 2017 and 2018, calculate current ratio, quick (acid-test) ratio, inventory turnover and days' inventory outstanding (DIO), accounts receivable turnover, days' sales in average receivables or days' sales outstanding (DSO), accounts payable turnover, days' payable outstanding (DPO), and cash conversion cycle (in days). a. Use the cost of goods sold in the formula for accounts payable turnover. b. Use a 365-day year for calculations as needed. c. Use cell references from prior calculations, if applicable. (Always use cell references...
Short-Term Solvency Ratios (Liquidity Rations) 1. Calculate current ratio and quick/liquid/acid test ratio from the following: A Sundry debtors RO 400,000 Stock RO 160,000 A Marketable securities RO 80,000 Cash RO 120,000 * Prepaid expenses RO 40,000 Bill payables RO 80,000 Sundry creditors RO 160,000 A Debentures RO 200,000 Outstanding Expenses RO 160,000 2 Calculate current ratio and anikliidid tact rastin from the following Short-Term Solvency Ratios (Liquidity Rations) 1. Calculate current ratio and quick/liquid/acid test ratio from the following:...
Compute the current ratio and acid-test ratio for each of the following separate cases Torino $ 2,450240 $1,300 400 550 2,200 2,040 3,100 900 6,250 Camaro GTO Cash Short-term investments Current receivables Inventory Prepaid expenses Total current assets 520 700 $ 5,220 $ 3,50 270 300 Current liabilities $ 2,240 1,330 3,600 urrent Ratio Choose Numerator: Choose Denominator: Current Ratio Current ratio Camaro GTO Torino to 1 cid-Test Ratio Choose Numerator: Choose Denominator: Acid-Test Ratio Acid-test ratio Camaro GTO Torino...
5. Calculate the quick ratio (acid test ratio) for a company given the following information: Cash A/R (net) Inventory Short term investments Fixed Assets (net) Long-term investments $10,000 $12,000 $30,000 $25,000 $115,000 $150,000 Accounts Payable $10,000 Other Short term liabilities: $27,000 Long-term liabilities: $50,000
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