Homework Answers
| Answer: |
|
Acid Test Ratio = Quick Assets / Current Liabilities = $ 213,000 / $ 113,400 = 1.9 |
| Option (E) is Correct - 1.9 |
| Workings: |
|
Quick Assets = Cash + Short-term Investment + Accounts receivable = $ 37,500 + $ 90,000 + $ 85,500 = $ 213,000 |
| Current Liabilities = Accounts payable = $ 113,400 |
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38. Refer to the following selected financial information from Fennie's, LLC. Compute the company's acid-test ratio...
Refer to the following selected financial information from Texas Electronics. Compute the company's current ratio for...
Refer to the following selected financial information from Texas Electronics. Compute the company's current ratio for Year 2. Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 37,500 $ 36,850 90,000 90,000 85,500 86,250 121,000 117,000 12,100 13,500 388,000 392,000 113,400 111,750 711,000 706,000 390,000 385,500 Multiple Choice 1.88 3.05 2.26
Refer to the following selected financial information from Texas Electronics Compute the company's working capital for...
Refer to the following selected financial information from Texas Electronics Compute the company's working capital for Year 2. Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 37,500 $ 36,850 90,000 90,000 85,500 86,250 121,000 117,000 12,100 13,500 388,000 392,000 113,400 111,750 711,000 706,000 390,090 385,500 ο $232,700. ο $220,600. ο $147,200. ο $111,700. ο $142,700.
Refer to the following selected financial information from Fennie's, LLC. Compute the company's inventory turnover for...
Refer to the following selected financial information from Fennie's, LLC. Compute the company's inventory turnover for Year 2 Year Year 2 $32.250 $37,500 90,000 Cash 60,000 Short-term investments 79,500 Accounts receivable, net Merchandise inventory Prepaid expenses 85,500 125,000 121.000 9.700 12,100 338.000 388.000 Plant assets 107.800 Accounts payable Net sales 113.400 676.000 711.000 375,000 390.000 Cost of goods sold 2.5 points Sa Use the following selected information from Farris, LLC to determine the Year 2 and Year 1 common size...
pls help? Refer to the following selected financial information from Texas Electronics Compute the company's accounts...
pls help?
Refer to the following selected financial information from Texas Electronics Compute the company's accounts receivable turnover for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 37,500 $ 36,850 90,000 90,000 85,500 86,250 121,800 117,899 12,129 13,500 388,000 392,000 113,400 111,750 711,eee 706, eee 390, 385,500 Multiple Choice 8.28 100 8.62 o 828. o 8.62 o 790. o 5.78. o...
nicht3-17 0 Kansas Company has provided you with financial information from the balance sheet and income...
nicht3-17 0 Kansas Company has provided you with financial information from the balance sheet and income statement Compute Kansas Company's current for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year Year 1 $ 37,500 $ 36,850 90,000 90,000 85,500 121,000 117,000 12,100 13,500 388,000 392,000 111,750 711,000 700.000 390,000 385,500 Multiple Choice LE 295 o o 305 138 226 < Prey 7 of 36 Hii...
Refer to the following selected financial information from McCormik, LLC. Compute the company's acid test ratio...
Refer to the following selected financial information from McCormik, LLC. Compute the company's acid test ratio for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Coat of goods sold Year 2 Year 1 $ 37,600 $ 32, 350 91,000 60,500 86,000 80,000 121, 500 125,500 12,200 9,800 388,500 338,500 112,900 108,300 711,500 676,500 390,500 375,500 Multiple Choice 0 0 0 0 0
Refer to the following selected financial information from McCormik, LLC. Compute the company's current ratio for...
Refer to the following selected financial information from McCormik, LLC. Compute the company's current ratio for Year 2. Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 37,700 $ 32,450 92,000 61,000 86,500 80,500 122,000 126,000 12,300 9,900 389,000 339,000 112,400 108,800 712,000 677,000 391,000 376,000 0 0 0 0 Refer to the following selected financial information from McCormik, LLC. Compute the company's inventory...
Refer to the following selected financial information from McCormik, LLC. Compute the company's working capital for...
Refer to the following selected financial information from McCormik, LLC. Compute the company's working capital for Year 2. Year 2 Year 1 Cash $ 38,700 $ 33,450 Short-term investments 102,000 66,000 Accounts receivable, net 91,500 85,500 Merchandise inventory 127,000 131,000 Prepaid expenses 13,300 10,900 Plant assets 394,000 344,000 Accounts payable 107,400 113,800 Net sales 717,000 682,000 Cost of goods sold 396,000 381,000
Help Refer to the following selected financial information from McCormik, LLC. Compute the company's current ratio...
Help Refer to the following selected financial information from McCormik, LLC. Compute the company's current ratio for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 38,300 $ 33,050 98,000 64,000 89, 500 83,500 125,000 129,000 12,900 10,500 392,000 342,000 109,400 111,800 715,000 680,000 394,000 379,000 Multiple Choice 2.43 3.32 Oo oo 218 206
Refer to the following selected financial information from McCormik, LLC. Compute the company's current ratio for...
Refer to the following selected financial information from McCormik, LLC. Compute the company's current ratio for Year 2 11:16 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 39,300 $ 34,050 108,000 69,000 94,500 88,500 130,000 134,000 13,900 11,500 397,000 347,000 104,400 116,800 720,000 685,000 399,000 384,000 Multiple Choice & Prov 27 of 30 # Next >
Refer to the following selected financial information from Texas Electronics. Compute the company's current ratio for Year 2. Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 37,500 $ 36,850 90,000 90,000 85,500 86,250 121,000 117,000 12,100 13,500 388,000 392,000 113,400 111,750 711,000 706,000 390,000 385,500 Multiple Choice 1.88 3.05 2.26
Refer to the following selected financial information from Texas Electronics Compute the company's working capital for Year 2. Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 37,500 $ 36,850 90,000 90,000 85,500 86,250 121,000 117,000 12,100 13,500 388,000 392,000 113,400 111,750 711,000 706,000 390,090 385,500 ο $232,700. ο $220,600. ο $147,200. ο $111,700. ο $142,700.
Refer to the following selected financial information from Fennie's, LLC. Compute the company's inventory turnover for Year 2 Year Year 2 $32.250 $37,500 90,000 Cash 60,000 Short-term investments 79,500 Accounts receivable, net Merchandise inventory Prepaid expenses 85,500 125,000 121.000 9.700 12,100 338.000 388.000 Plant assets 107.800 Accounts payable Net sales 113.400 676.000 711.000 375,000 390.000 Cost of goods sold 2.5 points Sa Use the following selected information from Farris, LLC to determine the Year 2 and Year 1 common size...
pls help?
Refer to the following selected financial information from Texas Electronics Compute the company's accounts receivable turnover for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 37,500 $ 36,850 90,000 90,000 85,500 86,250 121,800 117,899 12,129 13,500 388,000 392,000 113,400 111,750 711,eee 706, eee 390, 385,500 Multiple Choice 8.28 100 8.62 o 828. o 8.62 o 790. o 5.78. o...
nicht3-17 0 Kansas Company has provided you with financial information from the balance sheet and income statement Compute Kansas Company's current for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year Year 1 $ 37,500 $ 36,850 90,000 90,000 85,500 121,000 117,000 12,100 13,500 388,000 392,000 111,750 711,000 700.000 390,000 385,500 Multiple Choice LE 295 o o 305 138 226 < Prey 7 of 36 Hii...
Refer to the following selected financial information from McCormik, LLC. Compute the company's acid test ratio for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Coat of goods sold Year 2 Year 1 $ 37,600 $ 32, 350 91,000 60,500 86,000 80,000 121, 500 125,500 12,200 9,800 388,500 338,500 112,900 108,300 711,500 676,500 390,500 375,500 Multiple Choice 0 0 0 0 0
Refer to the following selected financial information from McCormik, LLC. Compute the company's current ratio for Year 2. Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 37,700 $ 32,450 92,000 61,000 86,500 80,500 122,000 126,000 12,300 9,900 389,000 339,000 112,400 108,800 712,000 677,000 391,000 376,000 0 0 0 0 Refer to the following selected financial information from McCormik, LLC. Compute the company's inventory...
Help Refer to the following selected financial information from McCormik, LLC. Compute the company's current ratio for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 38,300 $ 33,050 98,000 64,000 89, 500 83,500 125,000 129,000 12,900 10,500 392,000 342,000 109,400 111,800 715,000 680,000 394,000 379,000 Multiple Choice 2.43 3.32 Oo oo 218 206
Refer to the following selected financial information from McCormik, LLC. Compute the company's current ratio for Year 2 11:16 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 39,300 $ 34,050 108,000 69,000 94,500 88,500 130,000 134,000 13,900 11,500 397,000 347,000 104,400 116,800 720,000 685,000 399,000 384,000 Multiple Choice & Prov 27 of 30 # Next >
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