Homework Answers
a) Current Ratio is calculated by dividing current assets by current liabilities. Screenshot below shows the calculation over 3 years-
b) The ratio has worsened over the years. A higher ratio is the indicator of company have liquid assets to cover current liabilities. Over the period of 3 years, the ratio has decreased from 7.5 to 4.06.
c) Acid-test Ratio is calculated by dividing liquid assets (cash, cash equivalents, marketable securities & current accounts receivables) by current liabilities. Screenshot below shows the calculation over 3 years-
d) The ratio has worsened over the years. A higher ratio is the indicator of company have liquid assets to cover financial obligations. Over the period of 3 years, the ratio has decreased from 1.71 to 0.94.
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Simon Company's year-e balance 5 2 Current Y Y Ago 2 yrs ago At December 31...
Simon Company's year-e balance 5 2 Current Y Y 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 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 25,219 74.569 90,043 8.450 233,477 $ 431,758 $ 29,776 $ 29,795 53, 15140, 132 70,235 43,608 8.051 3.479 210,992 190,086 $ 372,205 $ 307,100 $ 106,433...
Exercise 13-7 Analyzing liquidity LO P3 Simon Company's year-end balance sheets follow. At December 31 Current...
Exercise 13-7 Analyzing liquidity LO P3 Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 25,219 74,569 90,043 8,450 233,477 $ 431,758 $ 29,776 $ 29,795 53,151 70,235 8,051 210,992 $ 372,205 $ 307, 100 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 40,132 43,608 3,479 190,086 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 32,000 $ 38,160 $ 40,951 Accounts receivable, net 91,808 68,103 53,011 Merchandise inventory 118,965 89,993 55,887 Prepaid expenses 10,201 10,116 4,462 Plant assets, net 294,873 265,910 247,289 Total assets $ 547,847 $ 472,282 $ 401,600 Liabilities and Equity Accounts payable $ 139,142 $ 79,816 $ 52,481 Long-term notes payable secured by mortgages on plant assets 100,935 107,539 90,529 Common stock,...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago $ 28,742...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago $ 28,742 81,653 105, 775 9,164 256,994 $ 482,328 $ 32,599 $ 34,997 58,794 46,662 78,461 49,700 8,732 3,812 237,214 214,829 $415,800 $ 350,000 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...
Ch 13 Ex 13-7 Saved Help Save & Exit Submit Check my work Simon Company's year-end...
Ch 13 Ex 13-7 Saved Help Save & Exit Submit Check my work Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago points $ 26,535 77,669 93,825 8,461 238,811 $ 445,301 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 $ 31,018...
Saved Exercise 13-7 Analyzing liquidity LO P3 Simon Company's year-end balance sheets follow. Current Yr 1...
Saved Exercise 13-7 Analyzing liquidity LO P3 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 $ 29,947 87,692 112,506 9,843 283,295 $ 523,283 $ 35,728 $ 37,953 64,418 48,148 81,786 52,324 9,663...
Simon Company's year-end balance sheets follow. Current Y 1 Yr Ago 2 Yrs Ago At December...
Simon Company's year-end balance sheets follow. Current Y 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 $ 26,426 78,108 94,392 8,510 236,030 $ 443,466 $ 29,972 $ 32,177 52,451 42,053 71,432 45,239 7,787 3,540 220,656 198,791 5 382,298 5 321,880...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 28,607 $ 34,818 $ 34,484 Accounts receivable, net 87,187 59,726 48,349 Merchandise inventory 107,471 79,720 49,972 Prepaid expenses 9,592 9,049 3,990 Plant assets, net 267,010 247,607 222,305 Total assets $ 499,867 $ 430,920 $ 359,100 Liabilities and Equity Accounts payable $ 120,733 $ 74,282 $ 48,349 Long-term notes payable secured by mortgages on plant assets 95,854 99,112 80,948 Common stock,...
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 $...
Exercise 13-7 Analyzing liquidity LO P3 Simon Company's year-end balance sheets follow. Current Yr 1 Yr...
Exercise 13-7 Analyzing liquidity LO P3 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 $ 29,604 86,667 105,699 9,437 275,420 $ 506,827 $ 35,653 61,780 79,214 9,267 251,006 $ 436,920 $ 37,127...
Simon Company's year-e balance 5 2 Current Y Y 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 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 25,219 74.569 90,043 8.450 233,477 $ 431,758 $ 29,776 $ 29,795 53, 15140, 132 70,235 43,608 8.051 3.479 210,992 190,086 $ 372,205 $ 307,100 $ 106,433...
Exercise 13-7 Analyzing liquidity LO P3 Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 25,219 74,569 90,043 8,450 233,477 $ 431,758 $ 29,776 $ 29,795 53,151 70,235 8,051 210,992 $ 372,205 $ 307, 100 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 40,132 43,608 3,479 190,086 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago $ 28,742 81,653 105, 775 9,164 256,994 $ 482,328 $ 32,599 $ 34,997 58,794 46,662 78,461 49,700 8,732 3,812 237,214 214,829 $415,800 $ 350,000 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...
Ch 13 Ex 13-7 Saved Help Save & Exit Submit Check my work Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago points $ 26,535 77,669 93,825 8,461 238,811 $ 445,301 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 $ 31,018...
Saved Exercise 13-7 Analyzing liquidity LO P3 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 $ 29,947 87,692 112,506 9,843 283,295 $ 523,283 $ 35,728 $ 37,953 64,418 48,148 81,786 52,324 9,663...
Simon Company's year-end balance sheets follow. Current Y 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 $ 26,426 78,108 94,392 8,510 236,030 $ 443,466 $ 29,972 $ 32,177 52,451 42,053 71,432 45,239 7,787 3,540 220,656 198,791 5 382,298 5 321,880...
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 $...
Exercise 13-7 Analyzing liquidity LO P3 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 $ 29,604 86,667 105,699 9,437 275,420 $ 506,827 $ 35,653 61,780 79,214 9,267 251,006 $ 436,920 $ 37,127...
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