Homework Answers
| 1 | Current ratio for the year ended 2016,2017,2018 | ||||||
| Year | Current assets | / | Current Liabilities | = | Current Ratio | ||
| 2018 | 244500 | / | 129900 | = | 1.88 | to 1 | |
| 2017 | 190000 | / | 75250 | = | 2.52 | to 1 | |
| 2016 | 147000 | / | 51250 | = | 2.87 | to 1 | |
| Current ratio= | Current Assets / Current Liability | ||||||
| Current Asset = Cash + Account receivables + Merchandise inventory Prepaid Expenses | |||||||
| 2018 | 31800+89500+112500+10700 = 244500 | ||||||
| 2017 | 35625+62500+82500+9375 = 190000 | ||||||
| 2016 | 37800+50200+54000+5000 = 147000 | ||||||
| Account payable is only taken as Current liabilities | |||||||
| 1 | Acid Test ratio for the year ended 2016,2017,2018 | |||||||||
| Year | Cash | + | Short term investment | + | Account Receivable | / | Current Liabilities | = | Acid Test Ratio | |
| 2018 | 31800 | + | 0 | + | 89500 | / | 129900 | = | 0.93 | to 1 |
| 2017 | 35625 | + | 0 | + | 62500 | / | 75250 | = | 1.30 | to 1 |
| 2016 | 37800 | + | 0 | + | 50200 | / | 51250 | = | 1.72 | to 1 |
| Acid Test = Quick Assets / Current Liabilities | ||||||||||
| Quick Assets = Cash + Account Receivable | ||||||||||
| 2018 | 31800+89500=121300 | |||||||||
| 2017 | 35625+62500=98125 | |||||||||
| 2016 | 37800+50200=88000 | |||||||||
Add Answer to:
Help Save & Che Simon Company's year end balance sheets follow. At December 31 Assets 2018...
Simon Company's year-end balance sheets follow 2018 2017 At December 31 Assets 2016 $ 31,800 $...
Simon Company's year-end balance sheets follow 2018 2017 At December 31 Assets 2016 $ 31,800 $ 35,625 $ 37, 800 89,500 62,500 50,200 112,500 82,500 54,000 10,700 9,375 5,000 278,500 255,000 230, 500 $523,000 $445,000 $377,500 Accounts receivable, net Merchandise inventory Prepaid exponnes Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Locmon stock, S10 par value Retained earnings Total liabilities and equity $129,900 $ 75,250 S 51, 250 98,500...
Please help with the acid test ratio as well as the formula Simon Company's year-end balance...
Please help with the acid test
ratio as well as the formula
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 $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 $ 35,625 $ 37,800...
Simon Company’s year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 31,800 $ 35...
Simon Company’s year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 31,800 $ 35,625 $ 37,800 Accounts receivable, net 89,500 62,500 50,200 Merchandise inventory 112,500 82,500 54,000 Prepaid expenses 10,700 9,375 5,000 Plant assets, net 278,500 255,000 230,500 Total assets $ 523,000 $ 445,000 $ 377,500 Liabilities and Equity Accounts payable $ 129,900 $ 75,250 $ 51,250 Long-term notes payable secured by mortgages on plant assets 98,500 101,500 83,500 Common stock, $10 par value 163,500 163,500...
[The following information applies to the questions displayed below.] Simon Company’s year-end balance sheets follow. At...
[The following information applies to the questions displayed below.] Simon Company’s year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 31,800 $ 35,625 $ 37,800 Accounts receivable, net 89,500 62,500 50,200 Merchandise inventory 112,500 82,500 54,000 Prepaid expenses 10,700 9,375 5,000 Plant assets, net 278,500 255,000 230,500 Total assets $ 523,000 $ 445,000 $ 377,500 Liabilities and Equity Accounts payable $ 129,900 $ 75,250 $ 51,250 Long-term notes payable secured by mortgages on plant assets 98,500...
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 Assets Cash Accounts receivable, net Prepaid expenses lant asets, net...
Simon Company's year-end balance sheets follow Assets Cash Accounts receivable, net Prepaid expenses lant asets, net Tetal assets Lisbilities and Eqpity 9, 500 2,50050,200 112, 500 82,500 54,000 10,700 9,755,000 278,500 255,000 230.500 522,000 445,000 $ 77,500 129.900 75,2s0 1.250 Long-term sotes payable secuzed by ,500 101 500 2, 500 62,500 163,500 163,500 Common stock. $10 par value Betained eaonings 1.100 104.750 720 1 Compute the cunent rato for the year ended 2017, 2016, and 2015 2. Compute the acid-test...
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 $ 31,800 $ 35,625 $ 37,800 Accounts receivable, net 89,500 62,500 50,200 Merchandise inventory 112,500 82,500 54,000 Prepaid expenses 10,700 9,375 5,000 Plant assets, net 278,500 255,000 230,500 Total assets $ 523,000 $ 445,000 $ 377,500 Liabilities and Equity Accounts payable $ 129,900 $ 75,250 $ 51,250 Long-term notes payable secured by mortgages on plant assets 98,500 101,500 83,500 Common stock,...
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 $ 31,800 $ 35,625 $ 37,800 Accounts receivable, net 89,500 62,500 50,200 Merchandise inventory 112,500 82,500 54,000 Prepaid expenses 10,700 9,375 5,000 Plant assets, net 278,500 255,000 230,500 Total assets $ 523,000 $ 445,000 $ 377,500 Liabilities and Equity Accounts payable $ 129,900 $ 75,250 $ 51,250 Long-term notes payable secured by mortgages on plant assets 98,500 101,500 83,500 Common stock,...
exercise 13-6 ammon-size percents Simon Company's year-end balance sheets follow. (1) Express the balance sheets in...
exercise 13-6 ammon-size percents Simon Company's year-end balance sheets follow. (1) Express the balance sheets in common-size per- cents. Round percents to one decimal. (2) Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage of total assets favorable or unfavorable? (3) Is the change in merchandise inventory as a percentage of total assets favorable or unfavorable? Chapter 13 Analysis of Financial Statements Current Yr 1 Yr Ago 2 Yrs...
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 $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 $ 35,625 $ 37,800 62,500 50,200 82,500 54,000 9,375 5,000 255,000 230, 500 $ 445,000 $...
Simon Company's year-end balance sheets follow 2018 2017 At December 31 Assets 2016 $ 31,800 $ 35,625 $ 37, 800 89,500 62,500 50,200 112,500 82,500 54,000 10,700 9,375 5,000 278,500 255,000 230, 500 $523,000 $445,000 $377,500 Accounts receivable, net Merchandise inventory Prepaid exponnes Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Locmon stock, S10 par value Retained earnings Total liabilities and equity $129,900 $ 75,250 S 51, 250 98,500...
Please help with the acid test
ratio as well as the formula
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 $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 $ 35,625 $ 37,800...
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 Assets Cash Accounts receivable, net Prepaid expenses lant asets, net Tetal assets Lisbilities and Eqpity 9, 500 2,50050,200 112, 500 82,500 54,000 10,700 9,755,000 278,500 255,000 230.500 522,000 445,000 $ 77,500 129.900 75,2s0 1.250 Long-term sotes payable secuzed by ,500 101 500 2, 500 62,500 163,500 163,500 Common stock. $10 par value Betained eaonings 1.100 104.750 720 1 Compute the cunent rato for the year ended 2017, 2016, and 2015 2. Compute the acid-test...
exercise 13-6 ammon-size percents Simon Company's year-end balance sheets follow. (1) Express the balance sheets in common-size per- cents. Round percents to one decimal. (2) Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage of total assets favorable or unfavorable? (3) Is the change in merchandise inventory as a percentage of total assets favorable or unfavorable? Chapter 13 Analysis of Financial Statements Current Yr 1 Yr Ago 2 Yrs...
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 $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 $ 35,625 $ 37,800 62,500 50,200 82,500 54,000 9,375 5,000 255,000 230, 500 $ 445,000 $...
Most questions answered within 3 hours.
-
What are five tips in conducting knowledge assessment/literature
review research? Each of these tips needs to...
asked 13 minutes ago -
Antigen presenting cells link innate and adaptive immune
responses. In the theoretical scenario where phagosomes cannot...
asked 19 minutes ago -
Dealing with conflict, in my opinion, is a skill and an art. I
believe that those...
asked 55 minutes ago -
6. A long straight wire with circular cross section and radius
1.5 cm carries a 1.2...
asked 59 minutes ago -
Deacon Corporation has provided the following financial data
from its balance sheet and income statement:
Year...
asked 1 hour ago -
List and discuss at least three variables from everyday life for
which you expect the variable ...
asked 1 hour ago -
A high-pass filter consists of a 1.60 μF capacitor in series
with a 125 Ω resistor....
asked 1 hour ago -
A newly developed artificial intelligence has trouble
distinguishing hand-written numbers from hand-written alphabets.
There are pictures...
asked 2 hours ago -
The carbonate ion CO3 2- has multiple resonance structures.
a. Draw them and assign the hybridization...
asked 2 hours ago -
In doing an allocation for a basket purchase
Use the individual costs and the total market...
asked 2 hours ago -
what were the social political and economic causes and impacts of
the late 19th century urban...
asked 2 hours ago -
if the magnitude of a velocity vector is 10m/s and it
makes an angle of 45...
asked 2 hours ago