Homework Answers
| Cash | 54000 | |
| Accounts receivable | 66000 | |
| Prepaid insurance | 2000 | |
| Supplies | 8600 | |
| Total Current Assets(a) | 130600 | |
| Accounts payable | 28000 | |
| Other current liabilities | 17000 | |
| Wages payable | 5000 | |
| Total Current Liabilities(b) | 50000 | |
| a. | ||
| Working Capital(a-b) | 80600 | |
| Current Ratio(a/b) | 2.6 | |
| Acid test ratio | 2.4 | |
| (54000+66000)/50000 | ||
| b. | ||
| We need further components like short term | ||
| receipts (debtors) and short term payments | ||
| (breakup of other current liabilities to further | ||
| evaluate short term liquidity) | ||
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Exercise 1 Chapter 4 The following data are taken from the financial statements of Keanan Company...
The following data are taken from the financial statements of Rosen, Inc. as of the end...
The following data are taken from the financial statements of Rosen, Inc. as of the end of the year 2022. The data are in alphabetical order. Accounts payable Accounts receivable Cash Gross profit Income before income taxes $28,000 66,000 24,000 160,000 54,000 Net income Other current liabilities Salaries and wages payable Total assets Total liabilities $48,000 17,000 5,000 250,000 175,000 Additional information: The average common shares outstanding during the year was 40,000. Compute the following: (Round current ratio and earnings...
The following data are taken from the financial statements of Rosen, Inc. as of the end...
The following data are taken from the financial statements of Rosen, Inc. as of the end of the year 2016. calculate working capital. Accounts payable $ 28,000 Net income $ 48,000 Accounts receivable 66,000 Total liabilities 175,000 Cash 24,000 Salaries and wages payable 5,000 Inventory 160,000 Total assets 250,000
The following data are taken from the financial statements of Wildhorse Co.. The data are in...
The following data are taken from the financial statements of Wildhorse Co.. The data are in alphabetical order. Accounts payable $27,800 Net sales $526,000 Accounts receivable 72,500 Other current liabilities 22,500 Average common shares out. 7,500 Cash 23,000 57,550 170,000 Salaries and wages payable Stockholders’equity Total assets 146,400 Gross profit 305,000 Net income 46,000 Compute the following: (Round current ratio to 1 decimal places, e.g. 1.5:1 and earnings per share to 2 decimal places, e.g. $2.51.) (a) Current ratio (b)...
The following data are taken from the financial statements of Sandhill Co. as of the end...
The following data are taken from the financial statements of Sandhill Co. as of the end of the year 2022. The data are in alphabetical order. $54,280 Accounts payable Accounts receivable Cash $35,000 74,000 Net income Other current liabilities Salaries and wages payable Total assets Total liabilities 16,300 5,700 25,180 260,000 Gross profit Income before income taxes 165,000 60,100 171,600 Additional information: The average common shares outstanding during the year was 46,000. Compute the following: (Round current ratio and earnings...
The following data were taken from the balance sheet of Nilo Company at the end of...
The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $480,300 $386,400 Marketable securities 556,200 434,700 Accounts and notes receivable (net) 227,500 144,900 Inventories 730,000 420,900 Prepaid expenses 376,000 269,100 Total current assets $2,370,000 $1,656,000 Current liabilities: Accounts and notes payable (short-term) $458,200 $483,000 Accrued liabilities 331,800 207,000 Total current liabilities $790,000 $690,000 a. Determine for each year (1) the working capital, (2)...
The following data were taken from the balance sheet of Nilo Company at the end of...
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The following data were taken from the balance sheet of Nilo Company at the end of...
The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $396,700 $320,000 Marketable securities 459,400 360,000 Accounts and notes receivable (net) 187,900 120,000 Inventories 382,800 244,000 Prepaid expenses 197,200 156,000 Total current assets $1,624,000 $1,200,000 Current liabilities: Accounts and notes payable (short-term) $336,400 $350,000 Accrued liabilities 243,600 150,000 Total current liabilities $580,000 $500,000 a. Determine for each year (1) the working capital, (2)...
he following data were taken from the balance sheet of Nilo Company at the end of...
he following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $524,400 $436,800 Marketable securities 607,200 491,400 Accounts and notes receivable (net) 248,400 163,800 Inventories 316,800 95,200 Prepaid expenses 163,200 60,800 Total current assets $1,860,000 $1,248,000 Current liabilities: Accounts and notes payable (short-term) $348,000 $364,000 Accrued liabilities 252,000 156,000 Total current liabilities $600,000 $520,000 a. Determine for each year (1) the working capital, (2)...
Current Position Analysis The following data were taken from the balance sheet of Nilo Company at...
Current Position Analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $421,800 $332,800 Marketable securities 488,400 374,400 Accounts and notes receivable (net) 124,800 Inventories 507,500 199,800 732,600 377,400 $2,220,000 Prepaid expenses 324,500 Total current assets $1,664,000 Current liabilities: Accounts and notes payable (short-term) $429,200 $448,000 Accrued liabilities 310,800 192,000 Total current liabilities $740,000 $640,000 a. Determine for each year (1) the...
Current Position Analysis The following data were taken from the balance sheet of Nilo Company at...
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The following data are taken from the financial statements of Rosen, Inc. as of the end of the year 2022. The data are in alphabetical order. Accounts payable Accounts receivable Cash Gross profit Income before income taxes $28,000 66,000 24,000 160,000 54,000 Net income Other current liabilities Salaries and wages payable Total assets Total liabilities $48,000 17,000 5,000 250,000 175,000 Additional information: The average common shares outstanding during the year was 40,000. Compute the following: (Round current ratio and earnings...
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The following data are taken from the financial statements of Sandhill Co. as of the end of the year 2022. The data are in alphabetical order. $54,280 Accounts payable Accounts receivable Cash $35,000 74,000 Net income Other current liabilities Salaries and wages payable Total assets Total liabilities 16,300 5,700 25,180 260,000 Gross profit Income before income taxes 165,000 60,100 171,600 Additional information: The average common shares outstanding during the year was 46,000. Compute the following: (Round current ratio and earnings...
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