Homework Answers
| Choose numerator | / | Choose Denominator | = | Current ratio | ||||||||
| Current assets | / | Current liabilities | = | Current ratio | ||||||||
| 2017 | 290044 | / | 153,934 | = | 1.88 | to 1 | ||||||
| 2016 | 227105 | / | 89,166 | = | 2.55 | to 1 | ||||||
| 2015 | 173679 | / | 58,031 | = | 2.99 | to 1 | ||||||
| current assets = total assets -PP&E | ||||||||||||
| Acid test ratio | ||||||||||||
| Choose Numerator | Choose Denominator | |||||||||||
| cash | + | short term investment | + | Current | ||||||||
| Receivable | / | current liabilities | = | Acid test ratio | ||||||||
| 2017 | 36,109 | + | 0 | + | 107828 | / | 153,934 | = | 0.94 | to 1 | ||
| 2016 | 43,061 | + | 0 | + | 75357 | / | 89,166 | = | 1.33 | to 1 | ||
| 2015 | 44411 | + | 0 | + | 58,623 | / | 58,031 | = | 1.78 | to 1 | ||
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Compute the acid-test ratio.
Simon Company's year-end balance sheets follow At December 31 2017 2016 2015...
Simon Company's year-end balance sheets follow. 2017 2016 2015 At December 31 Assets Cash Accounts receivable,...
Simon Company's year-end balance sheets follow. 2017 2016 2015 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 $ 26,1225 30,846 $ 34,119 79,574 53,981 44,167 97,135 70,612 47,513 8,498 8,261 3,791 240,461 225, 274 205,010 $ 451,799 $ 389,474 $ 334,600 $ 114,746 $ 65,821 $...
Simon Company's year-end balance sheets follow. 2017 2016 2015 $ At December 31 Assets Cash Accounts...
Simon Company's year-end balance sheets follow. 2017 2016 2015 $ At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Longtern notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 28,5315 33,684 $ 33,705 81,039 57, 196 46, 315 180,851 78,665 50, 317 8,912 8,579 3,745 264,248 238,756 213,318 $ 483,581 $ 416,880 $ 347,400 $ 119,208 $...
Simon Company’s year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 27,923...
Simon Company’s year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 27,923 $ 33,985 $ 32,679 Accounts receivable, net 85,935 58,886 45,369 Merchandise inventory 105,949 76,257 47,839 Prepaid expenses 9,270 8,833 3,743 Plant assets, net 258,832 242,650 210,670 Total assets $ 487,909 $ 420,611 $ 340,300 Liabilities and Equity Accounts payable $ 119,060 $ 71,083 $ 46,267 Long-term notes payable secured by mortgages on plant assets 92,644 93,838 75,206 Common stock, $10 par value 162,500 162,500...
Simon Company's year-end balance sheets follow. 2017 2016 2015 At December 31 Assets Cash Accounts receivable,...
Simon Company's year-end balance sheets follow. 2017 2016 2015 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 28,539 $ 35,423 $ 35,115 86,127 59,584 47.289 106,144 79,53148,856 9,570 9,208 3,941 268, 299 246,150 219,499 $ 498,679 $ 429,896 $ 354,700 $ 125,413 $ 72,652 $ 46,820...
Simon Company’s year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 35,286...
Simon Company’s year-end balance sheets follow.
At December 31
2017
2016
2015
Assets
Cash
$
35,286
$
41,246
$
40,887
Accounts receivable, net
101,276
68,676
54,516
Merchandise inventory
124,839
95,381
58,060
Prepaid expenses
11,143
10,407
4,634
Plant assets, net
308,101
284,846
254,903
Total assets
$
580,645
$
500,556
$
413,000
Liabilities and
Equity
Accounts payable
$
143,135
$
86,286
$
55,606
Long-term notes payable secured
by
mortgages on plant assets
111,344
117,430
93,098
Common stock, $10 par value
162,500
162,500...
Simon Company's year-end balance sheets follow At December 31 Assets Cash Accounts receivable, net Merchandise inventory...
Simon Company's year-end balance sheets follow 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 2017 2016 2015 $ 27,328 $ 32,931 $ 33,274 81,653 55,901 46,195 104,717 74,631 50,187 9,254 8,558 3,926 254,553 239,621 212,918 $477,505 $411,642 $346,500 $120,088 $ 71,655 $ 46,195 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 88,873 91,837 75,045...
Exercise 13-7 Liquidity analysis LO P3 Simon Company's year-end balance sheets follow. 2017 2016 2015 At...
Exercise 13-7 Liquidity analysis LO P3 Simon Company's year-end balance sheets follow. 2017 2016 2015 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, 396 $ 35,274 $ 36, 744 86,579 61,730 49,982 108,856 83,219 51,639 9,816 9,634 4,248 279,995 255,524 232,287 $ 516,642 $...
Simon Company's year-end balance sheets follow. 2018 2017 2016 At December 31 Assets Cash Accounts receivable,...
Simon Company's year-end balance sheets follow. 2018 2017 2016 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 $ 28,805 $ 33,670 $ 34,715 85,188 60,726 48,195 109,250 77,861 52,873 9,655 9,019 4,016 265,278 248,186 221,701 $498,176 $429,462 $361,500 $122,805 $ 72,579 $ 47,718 92,721 100,752 81,489...
Simon Company's year-end balance sheets follow. 2017 2016 2015 At December 31 Assets Cash Accounts receivable,...
Simon Company's year-end balance sheets follow. 2017 2016 2015 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 28,167 84,968 103,689 9,348 260,975 $ 487,147 $ 32,924 $ 58,794 78,468 8,643 241,125 $ 419,954 $ 34,307 45,742 48,233 3,774 211,044 343,100 $ 120,087 $ 69,553 $ 44,383...
Simon Company's year-end balance sheets follow. 2017 2016 2015 At December 31 Assets Cash Accounts receivable,...
Simon Company's year-end balance sheets follow. 2017 2016 2015 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 25,138 $ 29,084 $ 75,087 53,520 90,668 70,029 8,13 7,871 235,849 214,285 $ 434,755 $ 374,789 $ 31,223 41,227 43,046 3,335 187,369 306,200 $ 107,171 $ 62,706 $ aces...
Simon Company's year-end balance sheets follow. 2017 2016 2015 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 $ 26,1225 30,846 $ 34,119 79,574 53,981 44,167 97,135 70,612 47,513 8,498 8,261 3,791 240,461 225, 274 205,010 $ 451,799 $ 389,474 $ 334,600 $ 114,746 $ 65,821 $...
Simon Company's year-end balance sheets follow. 2017 2016 2015 $ At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Longtern notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 28,5315 33,684 $ 33,705 81,039 57, 196 46, 315 180,851 78,665 50, 317 8,912 8,579 3,745 264,248 238,756 213,318 $ 483,581 $ 416,880 $ 347,400 $ 119,208 $...
Simon Company's year-end balance sheets follow. 2017 2016 2015 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 28,539 $ 35,423 $ 35,115 86,127 59,584 47.289 106,144 79,53148,856 9,570 9,208 3,941 268, 299 246,150 219,499 $ 498,679 $ 429,896 $ 354,700 $ 125,413 $ 72,652 $ 46,820...
Simon Company’s year-end balance sheets follow.
At December 31
2017
2016
2015
Assets
Cash
$
35,286
$
41,246
$
40,887
Accounts receivable, net
101,276
68,676
54,516
Merchandise inventory
124,839
95,381
58,060
Prepaid expenses
11,143
10,407
4,634
Plant assets, net
308,101
284,846
254,903
Total assets
$
580,645
$
500,556
$
413,000
Liabilities and
Equity
Accounts payable
$
143,135
$
86,286
$
55,606
Long-term notes payable secured
by
mortgages on plant assets
111,344
117,430
93,098
Common stock, $10 par value
162,500
162,500...
Simon Company's year-end balance sheets follow 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 2017 2016 2015 $ 27,328 $ 32,931 $ 33,274 81,653 55,901 46,195 104,717 74,631 50,187 9,254 8,558 3,926 254,553 239,621 212,918 $477,505 $411,642 $346,500 $120,088 $ 71,655 $ 46,195 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 88,873 91,837 75,045...
Exercise 13-7 Liquidity analysis LO P3 Simon Company's year-end balance sheets follow. 2017 2016 2015 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, 396 $ 35,274 $ 36, 744 86,579 61,730 49,982 108,856 83,219 51,639 9,816 9,634 4,248 279,995 255,524 232,287 $ 516,642 $...
Simon Company's year-end balance sheets follow. 2018 2017 2016 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 $ 28,805 $ 33,670 $ 34,715 85,188 60,726 48,195 109,250 77,861 52,873 9,655 9,019 4,016 265,278 248,186 221,701 $498,176 $429,462 $361,500 $122,805 $ 72,579 $ 47,718 92,721 100,752 81,489...
Simon Company's year-end balance sheets follow. 2017 2016 2015 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 28,167 84,968 103,689 9,348 260,975 $ 487,147 $ 32,924 $ 58,794 78,468 8,643 241,125 $ 419,954 $ 34,307 45,742 48,233 3,774 211,044 343,100 $ 120,087 $ 69,553 $ 44,383...
Simon Company's year-end balance sheets follow. 2017 2016 2015 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 25,138 $ 29,084 $ 75,087 53,520 90,668 70,029 8,13 7,871 235,849 214,285 $ 434,755 $ 374,789 $ 31,223 41,227 43,046 3,335 187,369 306,200 $ 107,171 $ 62,706 $ aces...
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