Homework Answers
1a]
current ratio = current assets / current liabilities
current ratio = 142,679 / 188,094 = 0.76
1b]
quick ratio = (current assets - inventory) / current liabilities
quick ratio = (142,679 - 61,815) / 188,094 = 0.43
1c]
cash ratio = cash / current liabilities
cash ratio = 12,676 / 201,990 = 0.06
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please answer 1a 1b 1c
Got It Right Corporation Balance Sheets as of December 31, PY...
Got It Right Corporation Balance Sheets as of December 31, PY and CY PY CY Assets...
Got It Right Corporation Balance Sheets as of December 31, PY and CY PY CY Assets Current assets Cash Accounts receivable Inventory Total Fixed Assets Net plant and equipment Total Assets 11,686 $ 69,178 61,815 142,679 12,676 78,100 76,423 167,199 547,499 690,178 _ $ 650,998 818,197 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in capital Retained Earnings Total Total liabilities and owners' equity 48,600 $ 139,494 188,094 130,000 57,289...
Got It Right Corporation Balance Sheets as of December 31, PY and CY PY CY Assets...
Got It Right Corporation Balance Sheets as of December 31, PY and CY PY CY Assets Current assets Cash Accounts receivable Inventory Total Fixed Assets Net plant and equipment Total Assets 11,686 $ 69,178 61,815 142,679 12,676 78,100 76,423 167,199 547,499 690,178 _ $ 650,998 818,197 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in capital Retained Earnings Total Total liabilities and owners' equity 48,600 $ 139,494 188,094 130,000 57,289...
answer 1a, 1b, 1c Required information [The following information applies to the questions displayed below.) The...
answer 1a, 1b, 1c
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Simon Company's year-end balance sheets follow. 1 Yr Ago At December 31 Current Yr 2 Yrs Ago Assets 43,294 $ 78,060 101,128 11,824 312,332 Cash $ 36,664 109,515 139,e58 12,409 336,454 45,540 60,720 65,320 5,011 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 270,e09 546,638 446,600 634,100 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $1e par value Retained earnings $ 157,891 $ 93,306 58,951 119,211 162,50e 194,498...
Presented here are the comparative balance sheets of Hames, Inc., at December 31, 2017 and 2016....
Presented here are the comparative balance sheets of Hames, Inc., at December 31, 2017 and 2016. Sales for the year ended December 31, 2017, totaled $580,000. HAMES, INC., Balance Sheets December 31, 2017 and 2016 2017 2016 Assets Cash $ 23,000 $ 19,000 Accounts receivable 78,000 72,000 Merchandise inventory 103,000 99,000 Total current assets $ 204,000 $ 190,000 Land 50,000 40,000 Plant and equipment 125,000 110,000 Less: Accumulated depreciation (65,000 ) (60,000 ) Total assets $ 314,000 $ 280,000 Liabilities...
Simon Company's year-end balance sheets follow. Current Yr1 Yr Ago 2 Yrs Ago At December 31...
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Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December...
Simon Company's year-end balance sheets follow. 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 $ 31,596 92,499 119,789 10,483 286,564 $ 540,931 $ 37,679 $ 38,856 65,938 50,269 87,132 56,285 9,597 4, 189 265,974 239,001 $ 466,320 $...
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Presented here are the comparative balance sheets of Hames, Inc., at December 31, 2017 and 2016. Sales for the year ended December 31, 2017, totaled $540,000. HAMES, INC., Balance Sheets December 31, 2017 and 2016 2017 2016 $ 22,000 78,000 103,000 $ 203,000 50,000 125,000 (65,000) $ 313,000 $ 19,000 72,000 99,000 $ 190,000 40,000 110,000 (60,000 $ 280,000 17,000 Assets Cash Accounts receivable Merchandise inventory Total current assets Land Plant and equipment Less: Accumulated depreciation Total assets Liabilities Short-term...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs...
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Questions E and F please JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities...
Questions E and F please
JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities and Owners Equity 2017 2018 2017 2018 Current assets Current liabilities Cash Accounts $ 13,280 14,600 19,200 51,000 $63,200 84,800 Accounts payable Notes payable $ 40,000 $41,800 21,600 7,520 14,240 receivable Inventory 42,400 Total Total $54,240 63,400 Long-term debt $32,000 24,000 Owners' equity Common stock and paid-in $ 40,000 40,000 surplus 272,600 $233,760 312,600 Total liabilities and owners $320,000 $400,000 Retained earnings 193,760 Net...
Got It Right Corporation Balance Sheets as of December 31, PY and CY PY CY Assets Current assets Cash Accounts receivable Inventory Total Fixed Assets Net plant and equipment Total Assets 11,686 $ 69,178 61,815 142,679 12,676 78,100 76,423 167,199 547,499 690,178 _ $ 650,998 818,197 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in capital Retained Earnings Total Total liabilities and owners' equity 48,600 $ 139,494 188,094 130,000 57,289...
Got It Right Corporation Balance Sheets as of December 31, PY and CY PY CY Assets Current assets Cash Accounts receivable Inventory Total Fixed Assets Net plant and equipment Total Assets 11,686 $ 69,178 61,815 142,679 12,676 78,100 76,423 167,199 547,499 690,178 _ $ 650,998 818,197 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in capital Retained Earnings Total Total liabilities and owners' equity 48,600 $ 139,494 188,094 130,000 57,289...
answer 1a, 1b, 1c
Required information [The following information applies to the questions displayed below.) The following financial statement information is from five separate companies. Company A Company B Company с Company D Company $41,000 33, 620 $ 31,980 22,386 $ 26,240 14,169 $72,980 50,356 $ 111,930 ? December 31, 2018 Assets Liabilities December 31, 2019 Assets Liabilities During year 2019 Stock issuance Net income (2) Cash dividends 46,000 33,120 22,521 ? 15, 101 83,720 40,185 126,960 100,298 6,000 10,820...
Simon Company's year-end balance sheets follow. 1 Yr Ago At December 31 Current Yr 2 Yrs Ago Assets 43,294 $ 78,060 101,128 11,824 312,332 Cash $ 36,664 109,515 139,e58 12,409 336,454 45,540 60,720 65,320 5,011 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 270,e09 546,638 446,600 634,100 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $1e par value Retained earnings $ 157,891 $ 93,306 58,951 119,211 162,50e 194,498...
Simon Company's year-end balance sheets follow. Current Yr1 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 $ 29,566 88,287 106,651 9,906 271,763 $ 506,173 $ 34,908 62,312 83,148 8,989 247,098 $ 436,356 $ 34,941 46,587 51, 635 4, eee 219,337 $...
Simon Company's year-end balance sheets follow. 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 $ 31,596 92,499 119,789 10,483 286,564 $ 540,931 $ 37,679 $ 38,856 65,938 50,269 87,132 56,285 9,597 4, 189 265,974 239,001 $ 466,320 $...
Presented here are the comparative balance sheets of Hames, Inc., at December 31, 2017 and 2016. Sales for the year ended December 31, 2017, totaled $540,000. HAMES, INC., Balance Sheets December 31, 2017 and 2016 2017 2016 $ 22,000 78,000 103,000 $ 203,000 50,000 125,000 (65,000) $ 313,000 $ 19,000 72,000 99,000 $ 190,000 40,000 110,000 (60,000 $ 280,000 17,000 Assets Cash Accounts receivable Merchandise inventory Total current assets Land Plant and equipment Less: Accumulated depreciation Total assets Liabilities Short-term...
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