Homework Answers
1
| Current ratio = current assets/current liablities |
| Current ratio = 853/1725 |
| Current ratio = 0.49 |
| 2 |
| Quick or acid test ratio = (current assets-inventory)/current liablities |
| Quick or acid test ratio = (853-328)/1725 |
| Quick or acid test ratio = 0.3 |
| 3 |
| Cash ratio = cash & cash eqv./current liablities |
| Cash ratio = 215/1725 |
| Cash ratio = 0.12 |
4
| Inventory turnover = COGS/inventory |
| Inventory turnover = 2780/328 |
| Inventory turnover = 8.48 |
5
| Receivables turnover = Credit sales/receivables |
| Receivables turnover = 4053/310 |
| Receivables turnover = 13.07 |
| Please ask remaining parts seperately I have done one bonus |
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2012 $ 215 310 328 $ 853 PHILIPPE CORPORATION 2011 and 2012 Balance Sheets ($ in...
Question: What effect would the following actions have on Philippe Corporation’s current ratio? Provide your reasoning....
Question: What effect would the following actions have on
Philippe Corporation’s current ratio? Provide your reasoning.
a. Starting 2015 Current Ratio = _________________
b. $100 Inventory is purchased with cash.
c. A supplier is paid $100 with cash.
d. A short-term bank loan of $100 is repaid with cash.
e. A long-term debt of $100 is paid off early.
f. A customer pays off a credit account of $100.
g. Inventory is sold for $100 at cost.
h. Inventory is...
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Question: What effect would the following actions have on
Philippe Corporation’s current ratio? Provide your reasoning.
a. Starting 2015 Current Ratio = _________________
b. $100 Inventory is purchased with cash.
c. A supplier is paid $100 with cash.
d. A short-term bank loan of $100 is repaid with cash.
e. A long-term debt of $100 is paid off early.
f. A customer pays off a credit account of $100.
g. Inventory is sold for $100 at cost.
h. Inventory is...
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