Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. |
BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018 and 2019 |
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2018 | 2019 | 2018 | 2019 | ||||||||||
Assets | Liabilities and Owners’ Equity | ||||||||||||
Current assets | Current liabilities | ||||||||||||
Cash | $ | 34,678 | $ | 44,680 | Accounts payable | $ | 192,922 | $ | 200,611 | ||||
Accounts receivable | 59,281 | 79,639 | Notes payable | 88,020 | 139,588 | ||||||||
Inventory | 130,795 | 197,317 | |||||||||||
Total | $ | 280,942 | $ | 340,199 | |||||||||
Total | $ | 224,754 | $ | 321,636 | |||||||||
Long-term debt | $ | 243,000 | $ | 179,750 | |||||||||
Owners’ equity | |||||||||||||
Common stock and paid-in surplus | $ | 212,000 | $ | 212,000 | |||||||||
Accumulated retained earnings | 146,359 | 179,065 | |||||||||||
Fixed assets | |||||||||||||
Net plant and equipment | $ | 657,547 | $ | 589,378 | Total | $ | 358,359 | $ | 391,065 | ||||
Total assets | $ | 882,301 | $ | 911,014 | Total liabilities and owners’ equity | $ | 882,301 | $ | 911,014 | ||||
Calculate the following financial ratios for each year: | |
a. | Current ratio. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) |
b. | Quick ratio. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) |
c. | Cash ratio. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) |
d. | Debt-equity ratio and equity multiplier. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) |
e. | Total debt ratio. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) |
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2018 | 2019 | |||||
Calculation | Answer | Calculation | Answer | |||
a. Current ratio [ Total current assets / Total current liabilities ] | (224754/280942) | 0.80 | times | (321636/340199) | 0.95 | times |
b. Quick ratio [ ( Total current assets - Inventory ) / Total current liabilities ] | (224754-130795)/280942 | 0.33 | times | (321636-197317)/340199 | 0.37 | times |
c. Cash ratio [ Cash / Current liabilities ] | 34678/280942 | 0.12 | times | 44680/340199 | 0.13 | times |
d. Debt equity ratio [ Total debt / Total owner's equity ] | (523942/358359) | 1.46 | times | (519949/391065) | 1.33 | times |
d. equity multiplier [ Total assets / Total owner's equity ] | (882301/358359) | 2.46 | times | (911014/391065) | 2.33 | times |
e. Total debt ratio [ Total debt / Total assets ] | (523942/882301) | 0.59 | times | (519949/911014) | 0.57 | times |
Working note 2. | ||
2018 | 2019 | |
Total current liabilities | 280942 | 340199 |
Long term debt | 243000 | 179750 |
Total debt | 523942 | 519949 |
Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. BETHESDA MINING COMPANY...
Bethesda Mining Company reports the following balance sheet information for 2018 and 2019.Prepare the 2018 and 2019 common-size balance sheets for Bethesda Mining. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)BETHESDA MINING COMPANYBalance Sheets as of December 31, 2018 and 201920182019AssetsCurrent assetsCash$34,678%$44,680%Accounts receivable59,281%79,639%Inventory130,795%197,317%Total$224,754%$321,636%Fixed assetsNet plant and equipment$657,547%$589,378%Total assets$882,301%$911,014%Liabilities and Owners’ EquityCurrent liabilitiesAccounts payable$192,922%$200,611%Notes payable88,020%139,588%Total$280,942%$340,199%Long-term debt$243,000%$179,750%Owners' equityCommon stock and paid-in surplus$212,000%$212,000%Accumulated retained earnings146,359%179,065%Total$358,359%$391,065%Total liabilities and owners' equity$882,301%$911,014%
Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Assets Liabilities and Owners’ Equity Current assets Current liabilities Cash $ 40,010 $ 51,181 Accounts payable $ 191,922 $ 199,611 Accounts receivable 60,281 80,639 Notes payable 87,020 138,588 Inventory 128,441 194,689 Total $ 278,942 $ 338,199 Total $ 228,732 $ 326,509 Long-term debt $ 241,000 $ 177,750 Owners’ equity Common stock...
Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. 2018 2019 BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018 and 2019 2018 2019 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 70,322 $ 88,509 Accounts payable Accounts receivable 66,281 86,639 Notes payable Inventory $ 185,922 81,020 $ 193,611 132,588 114,322 178,920 Total $266,942 $ 326,199 Total $250,925 $354,068...
Bethesda Mining Company reports the following balance sheet information for 2018 and 2019. 2018 2019 BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018 and 2019 2018 2019 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 26,530 $ 34,778 Accounts payable Accounts receivable 57,781 78,139 Notes payable Inventory $ 194,422 89,520 $ 202,111 141,088 134,324 201,260 Total $283,942 $ 343,199 Total $ 218,635 $ 314,177 $246,000 $ 182,750 Long-term debt Owners' equity Common stock and paid-in...
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Bethesda Mining Company reports the following balance sheet information for 2018 and 2019 Assets Current assets Cash Inventory BETHESDA MINING COMPANY Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Liabilities and Owners' Equity Current liabilities $ 21182 $ 24.141 Accounts payable $ 180,108 $ 190,767 51,036 59.935 Notes payable 83,179 98,175 120.589 142,718 Total $ 263 287 $ 288,942 $ 192,807 $ 226,794 Long-term debt $305,000 $ 340,000 Owners' equity Common stock and paid in...