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 | |||||||||
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