Quick ratio=(Current assets-inventory-prepaid expenses)/Current liabilities
=(645-260-15)/380
which is equal to
=0.97(Approx).
Excerpts from Sydner Corporation's most recent balance sheet appear below: Year 2 Year 1 Current assets:...
Excerpts from Colter Corporation's most recent balance sheet appear below: Year 2 Year 1 Current assets: Cash $ 107 $ 137 Accounts receivable, net 134 144 Inventory 221 211 Prepaid expenses 57 57 Total current assets 519 549 Total current liabilities $ 388 $ 375 Sales on account in Year 2 amounted to $1,635 and the cost of goods sold was $975. The acid-test (quick) ratio at the end of Year 2 is closest to: 1.00 0.77 0.62 1.34
Excerpts from Colter Corporation's most recent balance sheet appear below: Year 2 Year 1 Current assets: Cash $ 90 $ 120 Accounts receivable, net 100 110 Inventory 170 160 Prepaid expenses 40 40 Total current assets $ 400 $ 430 Total current liabilities $ 320 $ 290 Sales on account in Year 2 amounted to $1,210 and the cost of goods sold was $720. The acid-test (quick) ratio at the end of Year 2 is closest to:
Multiple Choice
4.09
3.75
0.83
1.20
Excerpts from Sydner Corporation's most recent balance sheet appear below: Year 2 Year 1 $160 230 Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets $ 140 210 240 10 200 10 $600 $360 $ 600 $330 Total current liabilities Sales on account in Year 2 amounted to $1,390 and the cost of goods sold was $900. The inventory turnover for Year 2 is closest to:
$540 $710 $140 $1,050 Excerpts from Colter Corporation's most recent balance sheet appear below: Year 2 Year 1 Current assets: Cash $ 110 $ 140 Accounts receivable, net 140 150 Inventory 230 220 Prepaid expenses 60 60 Total current assets 540 570 Total current liabilities $ 400 $ 390 Sales on account in Year 2 amounted to $1,710 and the cost of goods sold was $1,020. The working capital at the end of Year 2 is:
Data from Dunshee Corporation's most recent balance sheet appear below: Year 2 Year 1 Current assets: Cash Accounts receivable, net Inventory Prepaid expenses $148 306 144 28 $626 $302 $118 326 164 28 $636 $310 Total current assets Total current liabilities Sales on account in Year 2 amounted to $1,620 and the cost of goods sold was $1,000 The current ratio at the end of Year 2 is closest to Multiple Choice 0.74 2.07 1.12 0.76
Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Year 2 Year 1 Current assets: Cash $ 184 $ 100 Accounts receivable, net 214 214 Inventory 164 154 Prepaid expenses 114 114 Total current assets $ 676 $ 582 Current liabilities: Accounts payable $ 224 $ 204 Accrued liabilities 54 54 Notes payable, short term 114 104 Total current liabilities $ 392 $ 362 Sales on account during the year totaled $1,320 thousand. Cost of...
Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Year 2 Year 1 Current assets: Cash $ 168 $ 100 Accounts receivable, net 198 198 Inventory 148 138 Prepaid expenses 98 98 Total current assets $ 612 $ 534 Current liabilities: Accounts payable $ 208 $ 188 Accrued liabilities 38 38 Notes payable, short term 98 88 Total current liabilities $ 344 $ 314 Sales on account during the year totaled $1,240 thousand. Cost of...
Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Year 2 Year 1 Current assets: Cash $ 194 $ 100 Accounts receivable, net 224 224 Inventory 174 164 Prepaid expenses 124 124 Total current assets $ 716 $ 612 Current liabilities: Accounts payable $ 234 $ 214 Accrued liabilities 64 64 Notes payable, short term 124 114 Total current liabilities $ 422 $ 392 Sales on account during the year totaled $1,370 thousand. Cost of...
Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Year 2 Year 1 Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities $164 194 144 94 $596 $100 194 134 94 $522 $204 $184 34 34 94 84 $332 $302 Sales on account during the year totaled $1,220 thousand. Cost of goods sold was $820 thousand. Required: Compute the...
Data from Dunshee Corporation's most recent balance sheet appear below: Year 2 Year 1. $116 322 Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets $146 302 138 26 $612 158 26 $622 Total current liabilities $294 $300 Sales on account in Year 2 amounted to $1,570 and the cost of goods sold was $970. The working capital at the end of Year 2 is: Multiple Choice $994 $612 $884 $318