Homework Answers
Quick Ratio = Quick assets /Current liabilities
| Quick Ratio | |
| Previous year (2,077,000-467,000)/700,000 | 2.3 |
| Current year (1,676,000-356,000)/660,000 | 2 |
Decreased
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Calculator Print Item eBook Gmeiner Co. had the following current assets and liabilities on December 31...
Print Item Calculator eBook Quick Ratio Gmeiner Co. had the following current assets and liabilities on...
Print Item Calculator eBook Quick Ratio Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years. Current Year Previous Year Current assets: Cash $500,000 444,000 274,000 $1,218,000 $673,000 317,000 267,000 $1,257,000 Accounts receivable Inventory Total current assets Current liabilities: $83,000 $94,000 Current portion of long-term debt 189,000 165,000 Accounts payable 307,000 302,000 Accrued and other current liabilities $590,000 $550,000 Total current liabilities a. Determine the quick ratio for December 31 of both years. If...
Current Year Gmeiner Co. had the following current assets and liabilities on December 31 of two...
Current Year Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years: Previous Year Current assets: Cash $646,000 $673,000 Accounts receivable 572,000 317,000 Inventory 353,000 267,000 Total current assets $1,571,000 $1,257,000 Current liabilities: Current portion of long-term debt $93,000 $83,000 Accounts payable 186,000 165,000 Accrued and other current liabilities 301,000 302,000 Total current liabilities $580,000 $550,000 a. Determine the quick ratio for December 31 of both years. If required, round your answers to one...
Quick Ratio Gmeiner Co. had the following current assets and liabilities on December 31 of two...
Quick Ratio Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years: Current Year Previous Year Current assets: Cash $517,000 $736,000 Accounts receivable 459,000 347,000 Inventory 283,000 292,000 Total current assets $1,259,000 $1,375,000 Current liabilities: Current portion of long-term debt $98,000 $86,000 Accounts payable 195,000 171,000 Accrued and other current liabilities 317,000 313,000 Total current liabilities $610,000 $570,000 a. Determine the quick ratio for December 31 of both years. If required, round your answers...
Quick Ratio Gmeiner Co. had the following current assets and liabilities on December 31 of two...
Quick Ratio Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years: Current Year Previous Year Current assets: Cash $563,000 $524,000 Accounts receivable 499,000 246,000 Inventory 308,000 208,000 Total current assets $1,370,000 $978,000 Current liabilities: Current portion of long-term debt $94,000 $83,000 Accounts payable 189,000 165,000 Accrued and other current liabilities 307,000 302,000 Total current liabilities $590,000 $550,000 a. Determine the quick ratio for December 31 of both years. If required, round your answers...
Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years:...
Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years: Current Year Previous Year Current assets: Cash $399,000 $628,000 Accounts receivable 353,000 296,000 Inventory 218,000 249,000 Total current assets $970,000 $1,173,000 Current liabilities: Current portion of long-term debt $75,000 $66,000 Accounts payable 150,000 132,000 Accrued and other current liabilities 245,000 242,000 Total current liabilities $470,000 $440,000 a. Determine the quick ratio for December 31 of both years. If required, round your answers to one...
Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years:...
Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years:
A) Determine the quick ratio for December 31 of both years.
B) Interpret the change in the quick ratio between the two balance sheet dates.
Quick Ratio Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years: Curren...
Quick Ratio Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years: Current Year Previous Year / 336,000 Current assets: Cash $615,000 $598,000 Accounts receivable 545,000 282,000 Inventory 238,000 Total current assets $1,496,000 $1,118,000 Current liabilities: Current portion of long-term debt $93,000 $83,000 Accounts payable 186,000 165,000 Accrued and other current liabilities 301,000 302,000 Total current liabilities $580,000 $550,000 a. Determine the quick ratio for December 31 of both years. If required, round your...
eBook Show Me Hory Calculator Print item Quick Ratio Nabors Company reported the following current assets...
eBook Show Me Hory Calculator Print item Quick Ratio Nabors Company reported the following current assets and liabilities for December 31 for two recent years: Dec. 31, Current Year Dec. 31, Previous Year Cash $810 $1,040 Temporary investments 1,780 2,320 Accounts receivable 4,070 1,570 Inventory 1,310 Accounts payable 3,700 2,900 1,330 Required: a. Compute the quick ratio on December 31 of both years. If required, round your answers to one decimal place. Quick Ratio December 31, current year December 31,...
Quick Ratio Nabors Company reported the following current assets and liabilities for December 31 for two...
Quick Ratio Nabors Company reported the following current assets and liabilities for December 31 for two recent years: Dec. 31, Current Year Dec. 31, Previous Year Cash $1,520 $1,700 Temporary investments 3,310 3,810 Accounts receivable 6,210 2,590 Inventory 2,480 2,430 Accounts payable 6,900 5,400 Required: a. Compute the quick ratio on December 31 of both years. If required, round your answers to one decimal place. Quick Ratio December 31, current year December 31, previous year b. Is the quick ratio...
Nabors Company reported the following current assets and liabilities for December 31 for two recent years:...
Nabors Company reported the following current assets and liabilities for December 31 for two recent years: Dec. 31, Current Year Dec. 31, Previous Year Cash Temporary investments $1,210 2,640 $1,170 2,630 Accounts receivable 2,200 1,790 Inventory 1,980 1,940 Accounts payable Required: 5,500 4,300 a. Compute the quick ratio on December 31 of both years. If required, round your answers to one decimal place. Quick Ratio December 31, current year December 31, previous year b. Is the quick ratio improving or...
Print Item Calculator eBook Quick Ratio Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years. Current Year Previous Year Current assets: Cash $500,000 444,000 274,000 $1,218,000 $673,000 317,000 267,000 $1,257,000 Accounts receivable Inventory Total current assets Current liabilities: $83,000 $94,000 Current portion of long-term debt 189,000 165,000 Accounts payable 307,000 302,000 Accrued and other current liabilities $590,000 $550,000 Total current liabilities a. Determine the quick ratio for December 31 of both years. If...
Current Year Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years: Previous Year Current assets: Cash $646,000 $673,000 Accounts receivable 572,000 317,000 Inventory 353,000 267,000 Total current assets $1,571,000 $1,257,000 Current liabilities: Current portion of long-term debt $93,000 $83,000 Accounts payable 186,000 165,000 Accrued and other current liabilities 301,000 302,000 Total current liabilities $580,000 $550,000 a. Determine the quick ratio for December 31 of both years. If required, round your answers to one...
Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years: Current Year Previous Year Current assets: Cash $399,000 $628,000 Accounts receivable 353,000 296,000 Inventory 218,000 249,000 Total current assets $970,000 $1,173,000 Current liabilities: Current portion of long-term debt $75,000 $66,000 Accounts payable 150,000 132,000 Accrued and other current liabilities 245,000 242,000 Total current liabilities $470,000 $440,000 a. Determine the quick ratio for December 31 of both years. If required, round your answers to one...
Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years:
A) Determine the quick ratio for December 31 of both years.
B) Interpret the change in the quick ratio between the two balance sheet dates.
Quick Ratio Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years: Current Year Previous Year / 336,000 Current assets: Cash $615,000 $598,000 Accounts receivable 545,000 282,000 Inventory 238,000 Total current assets $1,496,000 $1,118,000 Current liabilities: Current portion of long-term debt $93,000 $83,000 Accounts payable 186,000 165,000 Accrued and other current liabilities 301,000 302,000 Total current liabilities $580,000 $550,000 a. Determine the quick ratio for December 31 of both years. If required, round your...
eBook Show Me Hory Calculator Print item Quick Ratio Nabors Company reported the following current assets and liabilities for December 31 for two recent years: Dec. 31, Current Year Dec. 31, Previous Year Cash $810 $1,040 Temporary investments 1,780 2,320 Accounts receivable 4,070 1,570 Inventory 1,310 Accounts payable 3,700 2,900 1,330 Required: a. Compute the quick ratio on December 31 of both years. If required, round your answers to one decimal place. Quick Ratio December 31, current year December 31,...
Quick Ratio Nabors Company reported the following current assets and liabilities for December 31 for two recent years: Dec. 31, Current Year Dec. 31, Previous Year Cash $1,520 $1,700 Temporary investments 3,310 3,810 Accounts receivable 6,210 2,590 Inventory 2,480 2,430 Accounts payable 6,900 5,400 Required: a. Compute the quick ratio on December 31 of both years. If required, round your answers to one decimal place. Quick Ratio December 31, current year December 31, previous year b. Is the quick ratio...
Nabors Company reported the following current assets and liabilities for December 31 for two recent years: Dec. 31, Current Year Dec. 31, Previous Year Cash Temporary investments $1,210 2,640 $1,170 2,630 Accounts receivable 2,200 1,790 Inventory 1,980 1,940 Accounts payable Required: 5,500 4,300 a. Compute the quick ratio on December 31 of both years. If required, round your answers to one decimal place. Quick Ratio December 31, current year December 31, previous year b. Is the quick ratio improving or...
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