Please help with the acid test
ratio as well as the formula
Homework Answers
Current Year:
Acid-Test Ratio = (Cash + Short-term Investments + Current
Receivables) / Current Liabilities
Acid-Test Ratio = ($31,800 + $0 + $89,500) / $129,900
Acid-Test Ratio = 0.93 to 1
1 Year Ago:
Acid-Test Ratio = (Cash + Short-term Investments + Current
Receivables) / Current Liabilities
Acid-Test Ratio = ($35,625 + $0 + $62,500) / $75,250
Acid-Test Ratio = 1.30 to 1
2 Years Ago:
Acid-Test Ratio = (Cash + Short-term Investments + Current
Receivables) / Current Liabilities
Acid-Test Ratio = ($37,800 + $0 + $50,200) / $51,250
Acid-Test Ratio = 1.72 to 1
Add Answer to:
Please help with the acid test
ratio as well as the formula
Simon Company's year-end balance...
Need help solving the acid-test ratio. Current Yr 1 Yr Ago 2 Yrs Ago At December...
Need help solving the acid-test ratio.
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 $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 $ 35,625 $ 37,800 62,500 50,200 82,500 54,000 9,375 5,000 255,000 230,500 $ 445,000 $ 377,500...
Need help solving the current ratio. Current Yr 1 Yr Ago 2 Yrs Ago At December...
Need help solving the current ratio.
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 $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 $ 35,625 $ 37,800 62,500 50,200 82,500 54,000 9,375 5,000 255,000 230,500 $ 445,000 $ 377,500...
exercise 13-6 ammon-size percents Simon Company's year-end balance sheets follow. (1) Express the balance sheets in...
exercise 13-6 ammon-size percents Simon Company's year-end balance sheets follow. (1) Express the balance sheets in common-size per- cents. Round percents to one decimal. (2) Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage of total assets favorable or unfavorable? (3) Is the change in merchandise inventory as a percentage of total assets favorable or unfavorable? Chapter 13 Analysis of Financial Statements Current Yr 1 Yr Ago 2 Yrs...
At December 31 2015 2014 2013 Assets Cash $ 31,800 $ 35,625 $ 37,800 Accounts receivable,...
At December 31 2015 2014 2013 Assets Cash $ 31,800 $ 35,625 $ 37,800 Accounts receivable, net 89,500 62,500 50,200 Merchandise Inventory 112,500 82,500 54,000 Prepaid expenses 10,700 9,375 5,000 Plant assets, net 278,500 255,000 230,500 Total assets $ 523,000 $ 445,000 $ 377,500 Liabilities and Equity Accounts payable $ 129,900 $ 75,250 $ 51,250 Long-term notes payable secured by mortgages on plant assets 98,500 101,500 83,500 Common stock, $10 par value 163,500 163,500 163,500 Retained earnings 131,100 104,750 79,250...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 31,800 $ 35,625 $ 37,800 Accounts receivable, net 89,500 62,500 50,200 Merchandise inventory 112,500 82,500 54,000 Prepaid expenses 10,700 9,375 5,000 Plant assets, net 278,500 255,000 230,500 Total assets $ 523,000 $ 445,000 $ 377,500 Liabilities and Equity Accounts payable $ 129,900 $ 75,250 $ 51,250 Long-term notes payable secured by mortgages on plant assets 98,500 101,500 83,500 Common stock,...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 31,800 $ 35,625 $ 37,800 Accounts receivable, net 89,500 62,500 50,200 Merchandise inventory 112,500 82,500 54,000 Prepaid expenses 10,700 9,375 5,000 Plant assets, net 278,500 255,000 230,500 Total assets $ 523,000 $ 445,000 $ 377,500 Liabilities and Equity Accounts payable $ 129,900 $ 75,250 $ 51,250 Long-term notes payable secured by mortgages on plant assets 98,500 101,500 83,500 Common stock,...
lysis of Financial State At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets...
lysis of Financial State At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash... Accounts receivable, net. Merchandise inventory...... Prepaid expenses.. Plant assets, net.... Total assets... $ 31,800 89,500 112,500 10,700 278,500 $523,000 $ 35,625 62,500 82,500 9,375 255,000 $445,000 $ 37,800 50,200 54,000 5,000 230,500 $377,500 $129,900 $ 75,250 $ 51,250 Liabilities and Equity Accounts payable ...... Long-term notes payable second mortgages on plant asset Common stock, $10 par value Retained earnings..... Total liabilities and equity........
Simon Company's year-end balance sheets follow 2018 2017 At December 31 Assets 2016 $ 31,800 $...
Simon Company's year-end balance sheets follow 2018 2017 At December 31 Assets 2016 $ 31,800 $ 35,625 $ 37, 800 89,500 62,500 50,200 112,500 82,500 54,000 10,700 9,375 5,000 278,500 255,000 230, 500 $523,000 $445,000 $377,500 Accounts receivable, net Merchandise inventory Prepaid exponnes Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Locmon stock, S10 par value Retained earnings Total liabilities and equity $129,900 $ 75,250 S 51, 250 98,500...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 31,800 $ 35,625 $ 37,800 Accounts receivable, net 89,500 62,500 50,200 Merchandise inventory 112,500 82,500 54,000 Prepaid expenses 10,700 9,375 5,000 Plant assets, net 278,500 255,000 230,500 Total assets $ 523,000 $ 445,000 $ 377,500 Liabilities and Equity Accounts payable $ 129,900 $ 75,250 $ 51,250 Long-term notes payable secured by mortgages on plant assets 98,500 101,500 83,500 Common stock,...
Help Save & Che Simon Company's year end balance sheets follow. At December 31 Assets 2018...
Help Save & Che Simon Company's year end balance sheets follow. At December 31 Assets 2018 2017 2016 $ 31,800 $ 35,625 $ 37,800 89,500 62,500 50.200 112.500 82,500 54.000 10700 9,3755 .000 278.500 255.000 230,500 $523,000 $445,000 $377,500 Accounts receivable, net Nerchandise inventory Prepaid expenses Plant anneta, net Total asets Liabilities and Equity Accounts payable Long-term notes payable aecured by mortgages on plant assets Common stock, 510 PBE Value Retained earninga Total liabilities and equity $129,900 $ 75,250 $...
Need help solving the acid-test ratio.
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 $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 $ 35,625 $ 37,800 62,500 50,200 82,500 54,000 9,375 5,000 255,000 230,500 $ 445,000 $ 377,500...
Need help solving the current ratio.
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 $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 $ 35,625 $ 37,800 62,500 50,200 82,500 54,000 9,375 5,000 255,000 230,500 $ 445,000 $ 377,500...
exercise 13-6 ammon-size percents Simon Company's year-end balance sheets follow. (1) Express the balance sheets in common-size per- cents. Round percents to one decimal. (2) Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage of total assets favorable or unfavorable? (3) Is the change in merchandise inventory as a percentage of total assets favorable or unfavorable? Chapter 13 Analysis of Financial Statements Current Yr 1 Yr Ago 2 Yrs...
lysis of Financial State At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash... Accounts receivable, net. Merchandise inventory...... Prepaid expenses.. Plant assets, net.... Total assets... $ 31,800 89,500 112,500 10,700 278,500 $523,000 $ 35,625 62,500 82,500 9,375 255,000 $445,000 $ 37,800 50,200 54,000 5,000 230,500 $377,500 $129,900 $ 75,250 $ 51,250 Liabilities and Equity Accounts payable ...... Long-term notes payable second mortgages on plant asset Common stock, $10 par value Retained earnings..... Total liabilities and equity........
Simon Company's year-end balance sheets follow 2018 2017 At December 31 Assets 2016 $ 31,800 $ 35,625 $ 37, 800 89,500 62,500 50,200 112,500 82,500 54,000 10,700 9,375 5,000 278,500 255,000 230, 500 $523,000 $445,000 $377,500 Accounts receivable, net Merchandise inventory Prepaid exponnes Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Locmon stock, S10 par value Retained earnings Total liabilities and equity $129,900 $ 75,250 S 51, 250 98,500...
Help Save & Che Simon Company's year end balance sheets follow. At December 31 Assets 2018 2017 2016 $ 31,800 $ 35,625 $ 37,800 89,500 62,500 50.200 112.500 82,500 54.000 10700 9,3755 .000 278.500 255.000 230,500 $523,000 $445,000 $377,500 Accounts receivable, net Nerchandise inventory Prepaid expenses Plant anneta, net Total asets Liabilities and Equity Accounts payable Long-term notes payable aecured by mortgages on plant assets Common stock, 510 PBE Value Retained earninga Total liabilities and equity $129,900 $ 75,250 $...
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