Homework Answers
Acid test ratio
= (Cash + Short term investments + Net accounts receivable) / (Accounts payable + Salaries payable)
= ($42,000 + $14,500 + $48,000) / ($127,000 + $16,000)
= 0.73
Option B
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8) The financial statements for Silver Service Company include the following items: 2019 2018 Cash Short-term...
The financial statements for Barrington Service Company include the following items: 2019 2018 Cash $50,500 $40,000...
The financial statements for Barrington Service Company include the following items: 2019 2018 Cash $50,500 $40,000 Short-term Investments 31,000 18,000 Net Accounts Receivable 52,000 51,000 g Merchandise Inventory 165,000 46,000 Total Assets 535,000 549,000 Accounts Payable 124,500 126,000 Salaries Payable 21,000 13,000 Long-term Note Payable 53,000 ga Compute the current ratio for 2018. (Round answer to two decimal places.) 55,000I O A. 3.95 B. 6.95 OC. 0.9 OD. 1.12 les
OPTIONS ARE: Net income for 2019 was $23,000.Compute the rate of return on common stockholders' equity...
OPTIONS ARE:
Net income for 2019 was
$23,000.Compute the rate of return on common stockholders' equity
for 2019. (Round your final answer to two decimal places.)
Alden Corp. has the following balances as of December 31, 2019: Total Assets Total Liabilities Total Equity $91,000 69,000 22,000 Calculate the debt to equity ratio. (Round your answer to two decimal points.) O A. 0.32 O B. 2.82 OC. 3.14 O D. 4.14 Match the key term to the definition. (Click the icon...
The financial statements for Stephens' Electric Company indude the following items: 2016 2017 $51,000 $55,000 23,500...
The financial statements for Stephens' Electric Company indude the following items: 2016 2017 $51,000 $55,000 23,500 Cash 20,000 Cash Equivalents 30,000 81,000 26,000 Net Accounts Receivable Merchandise Inventory 65,000 Total Assets 530,000 548,000 Accounts Payable 44,500 44,500 Salaries Payable 35,000 24,000 20,000 Long-term Note Payable Income From Operations Interest Expense 61,000 57,000 124,500 28,000 115,000 33,000 Compute the 2016 cash ratio.
The financial statements of Carrier Office Furniture Company include the following terms 2019 2018 Cash $50,500...
The financial statements of Carrier Office Furniture Company include the following terms 2019 2018 Cash $50,500 $46,000 Short-term Investments 25,000 13,000 Net Accounts Receivable 92,000 98.000 Merchandise Inventory 164,000 144,000 Total Assets 527,000 549,000 Total Current Liabilities 267.000 293,000 Long-term Note Payable 63,000 55,000 What is working capital for 2019? A. $197,000 OB. $99,500 O C. $64,500 OD. $39,500
This Question: 2 pts 13 of 40 (12 complete The financial statements for Silver Service Company...
This Question: 2 pts 13 of 40 (12 complete The financial statements for Silver Service Company include the following items: 2019 2018 Cash $44,500 $50,000 Short-term Investments 30,000 17,500 Net Accounts Receivable 61,000 46,000 Merchandise Inventory 128,000 47,000 Total Assets 528,000 545,000 Accounts Payable 127,500 132,000 Salaries Payable 17,000 14,000 Long-term Note Payable 57,000 55,000 Compute the acid - test ratio for 2018. (Round your answer to two decimal places) A. 0.66 OB 0.94 OC. 0.78 OD 0.86
QUESTION 9 The financial statements for Myers Service Company include the following items: 2017 2016 Cash...
QUESTION 9 The financial statements for Myers Service Company include the following items: 2017 2016 Cash Short-term Investments Net Accounts Receivable Merchandise Inventory Total Assets Accounts Payable Salaries Payable Long-term Note Payable $51,500 27,000 55,000 131,000 528,000 129,500 23,000 60,000 $49,000 13,500 52000 47,000 553,000 1 24,000 19,000 60,000 Compute the acid-test ratio for 2016. (Round your answer to two decimal places) O 0.92 0.80 0.88 O 0.71
The financial statements of Weston Office Supply include the following items: 2017 2016 Cash Short-term Investments...
The financial statements of Weston Office Supply include the following items: 2017 2016 Cash Short-term Investments Net Accounts Receivable Merchandise Inventory Total Assets Total Current Liabilities Long-term Note Payable $49,500 27,000 94,000 130,000 527,000 257,000 63,000 $50,000 11,000 98,000 127,000 545,000 232,000 54,000 What is 2017 current ratio? (Round your answer to two decimal places.) O A. 0.86 B. 0.57 O C. 1.17 OD. 1.65 Click to select your answer.
Financial statements for Vernon Company follow. VERNON COMPANY Balance Sheets As of December 31 2019 2018...
Financial statements for Vernon Company follow. VERNON COMPANY Balance Sheets As of December 31 2019 2018 $ 24,500 21,700 58,000 143,000 27,000 274,200 32,000 295,000 27,000 $628,200 $ 20,500 7,700 50,000 151,000 12,000 241,200 25,000 280,000 22,000 $568,200 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable Other...
2018 2017 Cash Short-term Investments Net Accounts Receivables Merchandise Inventory Total Assets 60,000 $ 53,000 30,000...
2018 2017 Cash Short-term Investments Net Accounts Receivables Merchandise Inventory Total Assets 60,000 $ 53,000 30,000 0 146,000 132,000 277,000 252,000 495,000 535,000 265,000 202,000 44,000 56,000 170,000 178,000 48,000 44,000 Total Current Liabilities Long-term Note Payable Income from Operations Interest Expense Compute the following ratios for 2018 and 2017, and evaluate the company's ability to pay its current liabilities and total liabilities: a. Current ratio d. Debt ratio b. Cash ratio e. Debt to equity ratio c. Acid-test ratio
Financial statements for Vernon Company follow. VERNON COMPANY Balance Sheets As of December 31 2019 2018...
Financial statements for Vernon Company follow. VERNON COMPANY Balance Sheets As of December 31 2019 2018 $ 24,500 21,700 58,000 143,000 27,000 274,200 32,000 295,000 27,000 $628,200 $ 20,500 7,700 50,000 151,000 12,000 241,200 25,000 280,000 22,000 $568,200 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable Other...
The financial statements for Barrington Service Company include the following items: 2019 2018 Cash $50,500 $40,000 Short-term Investments 31,000 18,000 Net Accounts Receivable 52,000 51,000 g Merchandise Inventory 165,000 46,000 Total Assets 535,000 549,000 Accounts Payable 124,500 126,000 Salaries Payable 21,000 13,000 Long-term Note Payable 53,000 ga Compute the current ratio for 2018. (Round answer to two decimal places.) 55,000I O A. 3.95 B. 6.95 OC. 0.9 OD. 1.12 les
OPTIONS ARE:
Net income for 2019 was
$23,000.Compute the rate of return on common stockholders' equity
for 2019. (Round your final answer to two decimal places.)
Alden Corp. has the following balances as of December 31, 2019: Total Assets Total Liabilities Total Equity $91,000 69,000 22,000 Calculate the debt to equity ratio. (Round your answer to two decimal points.) O A. 0.32 O B. 2.82 OC. 3.14 O D. 4.14 Match the key term to the definition. (Click the icon...
The financial statements for Stephens' Electric Company indude the following items: 2016 2017 $51,000 $55,000 23,500 Cash 20,000 Cash Equivalents 30,000 81,000 26,000 Net Accounts Receivable Merchandise Inventory 65,000 Total Assets 530,000 548,000 Accounts Payable 44,500 44,500 Salaries Payable 35,000 24,000 20,000 Long-term Note Payable Income From Operations Interest Expense 61,000 57,000 124,500 28,000 115,000 33,000 Compute the 2016 cash ratio.
The financial statements of Carrier Office Furniture Company include the following terms 2019 2018 Cash $50,500 $46,000 Short-term Investments 25,000 13,000 Net Accounts Receivable 92,000 98.000 Merchandise Inventory 164,000 144,000 Total Assets 527,000 549,000 Total Current Liabilities 267.000 293,000 Long-term Note Payable 63,000 55,000 What is working capital for 2019? A. $197,000 OB. $99,500 O C. $64,500 OD. $39,500
This Question: 2 pts 13 of 40 (12 complete The financial statements for Silver Service Company include the following items: 2019 2018 Cash $44,500 $50,000 Short-term Investments 30,000 17,500 Net Accounts Receivable 61,000 46,000 Merchandise Inventory 128,000 47,000 Total Assets 528,000 545,000 Accounts Payable 127,500 132,000 Salaries Payable 17,000 14,000 Long-term Note Payable 57,000 55,000 Compute the acid - test ratio for 2018. (Round your answer to two decimal places) A. 0.66 OB 0.94 OC. 0.78 OD 0.86
QUESTION 9 The financial statements for Myers Service Company include the following items: 2017 2016 Cash Short-term Investments Net Accounts Receivable Merchandise Inventory Total Assets Accounts Payable Salaries Payable Long-term Note Payable $51,500 27,000 55,000 131,000 528,000 129,500 23,000 60,000 $49,000 13,500 52000 47,000 553,000 1 24,000 19,000 60,000 Compute the acid-test ratio for 2016. (Round your answer to two decimal places) O 0.92 0.80 0.88 O 0.71
The financial statements of Weston Office Supply include the following items: 2017 2016 Cash Short-term Investments Net Accounts Receivable Merchandise Inventory Total Assets Total Current Liabilities Long-term Note Payable $49,500 27,000 94,000 130,000 527,000 257,000 63,000 $50,000 11,000 98,000 127,000 545,000 232,000 54,000 What is 2017 current ratio? (Round your answer to two decimal places.) O A. 0.86 B. 0.57 O C. 1.17 OD. 1.65 Click to select your answer.
Financial statements for Vernon Company follow. VERNON COMPANY Balance Sheets As of December 31 2019 2018 $ 24,500 21,700 58,000 143,000 27,000 274,200 32,000 295,000 27,000 $628,200 $ 20,500 7,700 50,000 151,000 12,000 241,200 25,000 280,000 22,000 $568,200 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable Other...
2018 2017 Cash Short-term Investments Net Accounts Receivables Merchandise Inventory Total Assets 60,000 $ 53,000 30,000 0 146,000 132,000 277,000 252,000 495,000 535,000 265,000 202,000 44,000 56,000 170,000 178,000 48,000 44,000 Total Current Liabilities Long-term Note Payable Income from Operations Interest Expense Compute the following ratios for 2018 and 2017, and evaluate the company's ability to pay its current liabilities and total liabilities: a. Current ratio d. Debt ratio b. Cash ratio e. Debt to equity ratio c. Acid-test ratio
Financial statements for Vernon Company follow. VERNON COMPANY Balance Sheets As of December 31 2019 2018 $ 24,500 21,700 58,000 143,000 27,000 274,200 32,000 295,000 27,000 $628,200 $ 20,500 7,700 50,000 151,000 12,000 241,200 25,000 280,000 22,000 $568,200 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable Other...
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