Homework Answers
Answer
- Current ratio = Current Assets / Current Liabilities
= ($4800 + 10950 + 14400 + 1200) /
($2550 + 8630)
= 31350 / 11180
= 2.80
- Correct Answer = Option #1: 2.80
Add Answer to:
The following balance sheet Information is provided for Duke Company for Year 2 Assets Cash Accounts...
The following balance sheet information is provided for Duke Company for Year 2: Assets Cash Accounts...
The following balance sheet information is provided for Duke Company for Year 2: Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation Land Total assets Liabilities and Stockholders' Equity Accounts payable Salaries payable Bonds payable (Due in ten years) Common stock, no par Retained earnings Total liabilities and stockholders' equity $ 5,400 11,550 14,700 1,500 19,400 13,300 $65,850 $ 2,730 8,330 11,500 17,000 26,290 $65,850 ings What is the company's current ratio? (Round your answer to...
The following balance sheet information is provided for Duke Company for Year 2: Assets Cash Accounts...
The following balance sheet information is provided for Duke Company for Year 2: Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation Land Total assets Liabilities and Stockholders' Equity Accounts payable Salaries payable Bonds payable (Due in ten years) Common stock, no par Retained earnings Total liabilities and stockholders' equity $ 5,600 11,750 14,800 1,600 19,500 13,400 $66,650 $ 2,790 8,230 12,000 16,500 27,130 $66,650 What is the company's current ratio? (Round your answer to 2...
The following balance sheet information is provided for Greene Company for Year 2: Assets Cash 5,600...
The following balance sheet information is provided for Greene Company for Year 2: Assets Cash 5,600 11,750 14,800 1,600 19,500 13,400 Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation Land Total assets $66, 650 Liabilities and Stockholders Equity Accounts payable Salaries payable Bonds payable (Due in ten years) Common stock, no par $ 2,790 8,230 12, 000 16,500 27,130 Retained earnings Total liabilities and stockholders ' equity $66, 650 What is the company's quick (acid-test) ratio? (Round...
The following balance sheet information is provided for Apex Company for Year 2: Assets Cash Accounts...
The following balance sheet information is provided for Apex Company for Year 2: Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation Land Total assets Liabilities and stockholders' equity Accounts payable Salaries payable Bonds payable (due in ten years) Common stock, no par Retained earnings Total liabilities and stockholders' equity $ 7,800 13,950 15,900 2,700 20,600 14,500 $75,450 $ 3,450 7,130 17,500 11,000 36, 370 $75,450 Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment,...
The following balance sheet information is provided for Santana Company for Year 2: Assets $7,800 Cash...
The following balance sheet information is provided for Santana Company for Year 2: Assets $7,800 Cash Accounts receivable 13,950 Inventory Prepaid expenses Plant and equipment, net of depreciation 15,900 2,700 20,600 Land 14,500 $75,450 Total assets Liabilities and Stockholders' Equity Accounts payable Salaries payable Bonds payable (Due in ten years) Common stock, no par Retained earnings $ 3,450 7,130 17,500 11,000 36, 370 Total liabilities and stockholders' equity $75,450 ASsets $ 7,800 Cash 13,950 Accounts receivable Inventory Prepaid expenses Plant...
Mayfield Corporation has provided the following financial data: Balance Sheet Assets Current assets: Cash $ 288,000...
Mayfield Corporation has provided the following financial data: Balance Sheet Assets Current assets: Cash $ 288,000 Accounts receivable, net 301,000 Inventory 228,000 Prepaid expenses 23,000 Total current assets 840,000 Plant and equipment, net 730,000 Total assets $ 1,570,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 234,000 Accrued liabilities 65,000 Notes payable, short term 58,000 Total current liabilities 357,000 Bonds payable 126,000 Total liabilities 483,000 Stockholders' equity: Common stock, $4 par value 386,000 Additional paid-in capital 93,000 Retained earnings...
Following is the balance sheet of Finch Company for 2018: FINCH COMPANY Balance sheet Assets Cash...
Following is the balance sheet of Finch Company for 2018: FINCH COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 15,250 8,220 13,340 11,500 166,000 (12,600) $ 201,710 $ 8,660 3,120 4,150 21,600 113,500 50,680 $ 201, 710 The average number of common stock shares outstanding during 2018 was...
Following is the balance sheet of Finch Company for 2018: FINCH COMPANY Balance sheet Assets Cash...
Following is the balance sheet of Finch Company for 2018: FINCH COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 14,550 7,900 12,800 11,200 167,500 (12,900) $ 201,050 8.690 3,000 4,300 21.360 113,700 50,000 $ 201,050 The average number of common stock shares outstanding during 2018 was 860 shares....
Following is the balance sheet of Solomon Company for 2018: SOLOMON COMPANY Balance sheet Assets Cash...
Following is the balance sheet of Solomon Company for 2018: SOLOMON COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 14,750 7,620 13,160 10,750 165,500 (13,000) $198, 780 $ 8,390 3,240 4,200 21,300 113,300 48,350 $198,780 The average number of common stock shares outstanding during 2018 was 880 shares....
Following is the balance sheet of Finch Company for 2018: FINCH COMPANY Balance sheet Assets Cash...
Following is the balance sheet of Finch Company for 2018: FINCH COMPANY Balance sheet Assets Cash $ 15,100 8,020 13,160 11,450 173,000 (12,600) $208,130 Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity 8,930 3, 440 5,000 21,960 113,600 55,200 $208,130 The average number of common stock shares outstanding during 2018 was 860 shares. Net...
The following balance sheet information is provided for Duke Company for Year 2: Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation Land Total assets Liabilities and Stockholders' Equity Accounts payable Salaries payable Bonds payable (Due in ten years) Common stock, no par Retained earnings Total liabilities and stockholders' equity $ 5,400 11,550 14,700 1,500 19,400 13,300 $65,850 $ 2,730 8,330 11,500 17,000 26,290 $65,850 ings What is the company's current ratio? (Round your answer to...
The following balance sheet information is provided for Duke Company for Year 2: Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation Land Total assets Liabilities and Stockholders' Equity Accounts payable Salaries payable Bonds payable (Due in ten years) Common stock, no par Retained earnings Total liabilities and stockholders' equity $ 5,600 11,750 14,800 1,600 19,500 13,400 $66,650 $ 2,790 8,230 12,000 16,500 27,130 $66,650 What is the company's current ratio? (Round your answer to 2...
The following balance sheet information is provided for Greene Company for Year 2: Assets Cash 5,600 11,750 14,800 1,600 19,500 13,400 Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation Land Total assets $66, 650 Liabilities and Stockholders Equity Accounts payable Salaries payable Bonds payable (Due in ten years) Common stock, no par $ 2,790 8,230 12, 000 16,500 27,130 Retained earnings Total liabilities and stockholders ' equity $66, 650 What is the company's quick (acid-test) ratio? (Round...
The following balance sheet information is provided for Apex Company for Year 2: Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation Land Total assets Liabilities and stockholders' equity Accounts payable Salaries payable Bonds payable (due in ten years) Common stock, no par Retained earnings Total liabilities and stockholders' equity $ 7,800 13,950 15,900 2,700 20,600 14,500 $75,450 $ 3,450 7,130 17,500 11,000 36, 370 $75,450 Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment,...
The following balance sheet information is provided for Santana Company for Year 2: Assets $7,800 Cash Accounts receivable 13,950 Inventory Prepaid expenses Plant and equipment, net of depreciation 15,900 2,700 20,600 Land 14,500 $75,450 Total assets Liabilities and Stockholders' Equity Accounts payable Salaries payable Bonds payable (Due in ten years) Common stock, no par Retained earnings $ 3,450 7,130 17,500 11,000 36, 370 Total liabilities and stockholders' equity $75,450 ASsets $ 7,800 Cash 13,950 Accounts receivable Inventory Prepaid expenses Plant...
Following is the balance sheet of Finch Company for 2018: FINCH COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 15,250 8,220 13,340 11,500 166,000 (12,600) $ 201,710 $ 8,660 3,120 4,150 21,600 113,500 50,680 $ 201, 710 The average number of common stock shares outstanding during 2018 was...
Following is the balance sheet of Finch Company for 2018: FINCH COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 14,550 7,900 12,800 11,200 167,500 (12,900) $ 201,050 8.690 3,000 4,300 21.360 113,700 50,000 $ 201,050 The average number of common stock shares outstanding during 2018 was 860 shares....
Following is the balance sheet of Solomon Company for 2018: SOLOMON COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity $ 14,750 7,620 13,160 10,750 165,500 (13,000) $198, 780 $ 8,390 3,240 4,200 21,300 113,300 48,350 $198,780 The average number of common stock shares outstanding during 2018 was 880 shares....
Following is the balance sheet of Finch Company for 2018: FINCH COMPANY Balance sheet Assets Cash $ 15,100 8,020 13,160 11,450 173,000 (12,600) $208,130 Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity 8,930 3, 440 5,000 21,960 113,600 55,200 $208,130 The average number of common stock shares outstanding during 2018 was 860 shares. Net...
Most questions answered within 3 hours.
-
which of the following is capital?
the barn a farmer uses to hold the chickens he...
asked 14 seconds ago -
10. Two forces act on a 3 kg object, the gravitational force and
a second, constant...
asked 10 minutes ago -
Dividing Partnership Net Loss
Leigh Meadows and Byron Leef formed a partnership in which the
partnership...
asked 7 minutes ago -
Discuss how Entrepreneurial leadership style differs
from traditional leadership?
asked 33 minutes ago -
A futuristic design for a car is to have a large solid
disk-shaped flywheel within the...
asked 31 minutes ago -
Solid NaOH is added to a solution of 0.50 M acetic acid until
the pH of...
asked 34 minutes ago -
Which of the following statements is not a characteristic of the
Internal Revenue Code?
A) The...
asked 42 minutes ago -
Say true or false and explain it.
A heap is represented using an array. The array...
asked 52 minutes ago -
Explain how the DNA replication enzyme complex is organized and
functions, please don't copy paste from...
asked 51 minutes ago -
how
can personality contribute to one scoring high on the need to
evaluate measurement by Jarvis?
asked 53 minutes ago -
A high jumper is attempting to jump over a crossbar that is
placed at a height...
asked 57 minutes ago -
1.
A hemophiliac male mates with a healthy female. what are the
possible genotypes for the...
asked 1 hour ago