The current asset section of Guardian Consultant's balance sheet consists of cash, accounts receivable, and prepaid...
The current asset section of Guardian Consultant's balance sheet
consists of cash, accounts receivable, and prepaid expenses. The
2021 balance sheet reported the following: cash, $1,300,000;
prepaid expenses, $360,000; long-term assets, $2,400,000; and
shareholders’ equity, $2,500,000. The current ratio at the end of
the year was 2.0 and the debt to equity ratio was 1.4.
Required:
Determine the following 2021 amounts and ratios: (Round
your "The acid-test ratio" answer to 1 decimal
place.)
Homework Answers
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The current asset section of Guardian Consultant's balance sheet
consists of cash, accounts receivable, and prepaid...
The current asset section of Guardian Consultant's balance sheet consists of cash, accounts receivable, and prepaid...
The current asset section of Guardian Consultant's balance sheet consists of cash, accounts receivable, and prepaid expenses. The 2021 balance sheet reported the following: cash, $1.410,000: prepaid expenses. $470.000, long term assets, $3,500,000; and shareholders' equity, $3,600,000. The current ratio at the end of the year was 2.0 and the debt to equity ratio was 1.5. Required: Determine the following 2021 amounts and ratios: (Round your "The acid-test ratio" answer to 1 decimal place.) 1. Current liabilities 2. Long-term liabilities...
The current asset section of Guardian Consultant's balance sheet consists of cash, accounts receivable, and prepaid...
The current asset section of Guardian Consultant's balance sheet consists of cash, accounts receivable, and prepaid expenses. The 2021 balance sheet reported the following: cash, $1,350,000; prepaid expenses, $410,000; long-term assets, $2,900,000; and shareholders' equity, $3,000,000. The current ratio at the end of the year was 2.6 and the debt to equity ratio was 1.7. Required: Determine the following 2021 amounts and ratios: (Round your "The acid-test ratio" answer to 1 decimal place.) 1. Current liabilities 2. Long-term liabilities 3....
The current asset section of Guardian Consultant's balance sheet consists of cash, accounts receivable, and prepaid...
The current asset section of Guardian Consultant's balance sheet consists of cash, accounts receivable, and prepaid expenses. The 2021 balance sheet reported the following: cash, $1,470,000; prepaid expenses, $530,000; long-term assets, $2,600,000; and shareholders' equity, $2,700,000. The current ratio at the end of the year was 2.5 and the debt to equity ratio was 1.5. Required: Determine the following 2021 amounts and ratios: (Round your "The acid-test ratio" answer to 1 decimal place.) 1. Current liabilities 2. Long-term liabilities 3....
The current asset section of Guardian Consultant's balance sheet consists of cash, accounts receivable, and prepaid...
The current asset section of Guardian Consultant's balance sheet consists of cash, accounts receivable, and prepaid expenses. The 2021 balance sheet reported the following: cash, $1,470,000; prepaid expenses, $530,000; long-term assets, $2,600,000; and shareholders' equity, $2,700,000. The current ratio at the end of the year was 2.5 and the debt to equity ratio was 1.5. Required: Determine the following 2021 amounts and ratios: (Round your "The acid-test ratio" answer to 1 decimal place.) 1. Current liabilities 2. Long-term liabilities 3....
The current asset section of Guardian Consultant’s balance sheet consists of cash, accounts receivable, and prepaid...
The current asset section of Guardian Consultant’s balance sheet consists of cash, accounts receivable, and prepaid expenses. The 2021 balance sheet reported the following: cash, $1,310,000; prepaid expenses, $370,000; long-term assets, $2,500,000; and shareholders’ equity, $2,600,000. The current ratio at the end of the year was 3.0 and the debt to equity ratio was 1.9. Required: Determine the current liabilities, long-term liabilities, and the acid-test ratio 2021 amounts and ratios: (Round your "The acid-test ratio" answer to 1 decimal place.)
The current asset section of Guardian Consultant’s balance sheet consists of cash, accounts receivable, and prepaid...
The current asset section of Guardian Consultant’s balance sheet consists of cash, accounts receivable, and prepaid expenses. The 2021 balance sheet reported the following: cash, $1,460,000; prepaid expenses, $520,000; long-term assets, $2,500,000; and shareholders’ equity, $2,600,000. The current ratio at the end of the year was 2.5 and the debt to equity ratio was 1.5. Required: Determine the following 2021 amounts and ratios: (Round your "The acid-test ratio" answer to 1 decimal place.) current liabilities? Long term liabilities? Accounts Receivable?...
The current asset section of Guardian Consultant’s balance sheet consists of cash, accounts receivable, and prepaid...
The current asset section of Guardian Consultant’s balance sheet consists of cash, accounts receivable, and prepaid expenses. The 2021 balance sheet reported the following: cash, $1,400,000; prepaid expenses, $460,000; long-term assets, $3,400,000; and shareholders’ equity, $3,500,000. The current ratio at the end of the year was 2.5 and the debt to equity ratio was 1.4. Required: Determine the following 2021 amounts and ratios Current Liabilities? Long-term Liabilities? Accounts Receivable? The acid-test ratio?
The current asset section of Guardian Consultant’s balance sheet consists of cash, accounts receivable, and prepaid...
The current asset section of Guardian Consultant’s balance sheet consists of cash, accounts receivable, and prepaid expenses. The 2021 balance sheet reported the following: cash, $1,370,000; prepaid expenses, $430,000; long-term assets, $3,100,000; and shareholders’ equity, $3,200,000. The current ratio at the end of the year was 3.0 and the debt to equity ratio was 1.6. Required: Determine the following 2021 amounts and ratios: 1) Current Liabilities 2) Long-term Liabilities 3) Accounts Receivables 4) The Acid Test Ratio
The current asset section of Guardian Consultant’s balance sheet consists of cash, accounts receivable, and prepaid...
The current asset section of Guardian Consultant’s balance sheet consists of cash, accounts receivable, and prepaid expenses. The 2021 balance sheet reported the following: cash, $1,430,000; prepaid expenses, $490,000; long-term assets, $3,700,000; and shareholders’ equity, $3,800,000. The current ratio at the end of the year was 2.5 and the debt to equity ratio was 1.5. Required: Determine the following 2021 amounts and ratios: (Round your "The acid-test ratio" answer to 1 decimal place.) 1. current liabilities 2. Long-term Liabilities 3....
The current asset section of Guardian Consultant’s balance sheet consists of cash, accounts receivable, and prepaid...
The current asset section of Guardian Consultant’s balance sheet
consists of cash, accounts receivable, and prepaid expenses. The
2021 balance sheet reported the following: cash, $1,320,000;
prepaid expenses, $380,000; long-term assets, $2,600,000; and
shareholders’ equity, $2,700,000. The current ratio at the end of
the year was 2.5 and the debt to equity ratio was 1.5.
Required:
Determine the following 2021 amounts and ratios: (Round
your "The acid-test ratio" answer to 1 decimal place.)
1. Current liabilities 2. Long-term liabilities 3....
The current asset section of Guardian Consultant's balance sheet consists of cash, accounts receivable, and prepaid expenses. The 2021 balance sheet reported the following: cash, $1.410,000: prepaid expenses. $470.000, long term assets, $3,500,000; and shareholders' equity, $3,600,000. The current ratio at the end of the year was 2.0 and the debt to equity ratio was 1.5. Required: Determine the following 2021 amounts and ratios: (Round your "The acid-test ratio" answer to 1 decimal place.) 1. Current liabilities 2. Long-term liabilities...
The current asset section of Guardian Consultant's balance sheet consists of cash, accounts receivable, and prepaid expenses. The 2021 balance sheet reported the following: cash, $1,350,000; prepaid expenses, $410,000; long-term assets, $2,900,000; and shareholders' equity, $3,000,000. The current ratio at the end of the year was 2.6 and the debt to equity ratio was 1.7. Required: Determine the following 2021 amounts and ratios: (Round your "The acid-test ratio" answer to 1 decimal place.) 1. Current liabilities 2. Long-term liabilities 3....
The current asset section of Guardian Consultant's balance sheet consists of cash, accounts receivable, and prepaid expenses. The 2021 balance sheet reported the following: cash, $1,470,000; prepaid expenses, $530,000; long-term assets, $2,600,000; and shareholders' equity, $2,700,000. The current ratio at the end of the year was 2.5 and the debt to equity ratio was 1.5. Required: Determine the following 2021 amounts and ratios: (Round your "The acid-test ratio" answer to 1 decimal place.) 1. Current liabilities 2. Long-term liabilities 3....
The current asset section of Guardian Consultant's balance sheet consists of cash, accounts receivable, and prepaid expenses. The 2021 balance sheet reported the following: cash, $1,470,000; prepaid expenses, $530,000; long-term assets, $2,600,000; and shareholders' equity, $2,700,000. The current ratio at the end of the year was 2.5 and the debt to equity ratio was 1.5. Required: Determine the following 2021 amounts and ratios: (Round your "The acid-test ratio" answer to 1 decimal place.) 1. Current liabilities 2. Long-term liabilities 3....
The current asset section of Guardian Consultant’s balance sheet
consists of cash, accounts receivable, and prepaid expenses. The
2021 balance sheet reported the following: cash, $1,320,000;
prepaid expenses, $380,000; long-term assets, $2,600,000; and
shareholders’ equity, $2,700,000. The current ratio at the end of
the year was 2.5 and the debt to equity ratio was 1.5.
Required:
Determine the following 2021 amounts and ratios: (Round
your "The acid-test ratio" answer to 1 decimal place.)
1. Current liabilities 2. Long-term liabilities 3....
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