Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Year 2...

Question

Question

Excerpts from Candle Corporations most recent balance sheet (in thousands of dollars) appear below: Year 2 Year 1 Current as Required: Compute the following for Year 2: a. Working capital. (Enter your answer in thousands of dollars, i.e., 100,000 sho

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Year 2 a) Working capital - Current Assets - Current liabilitic $ 596 - $ 332 = $264 2 1.795 b) Current ratio- Current anets

Add a comment

Answer 2

Similar Homework Help Questions

Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Year 2...

Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Year 2 Year 1 Current assets: Cash $ 194 $ 100 Accounts receivable, net 224 224 Inventory 174 164 Prepaid expenses 124 124 Total current assets $ 716 $ 612 Current liabilities: Accounts payable $ 234 $ 214 Accrued liabilities 64 64 Notes payable, short term 124 114 Total current liabilities $ 422 $ 392 Sales on account during the year totaled $1,370 thousand. Cost of...
Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Year 2...

Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Year 2 Year 1 Current assets: Cash $ 184 $ 100 Accounts receivable, net 214 214 Inventory 164 154 Prepaid expenses 114 114 Total current assets $ 676 $ 582 Current liabilities: Accounts payable $ 224 $ 204 Accrued liabilities 54 54 Notes payable, short term 114 104 Total current liabilities $ 392 $ 362 Sales on account during the year totaled $1,320 thousand. Cost of...
Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Year 2...

Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Year 2 Year 1 Current assets: Cash $ 168 $ 100 Accounts receivable, net 198 198 Inventory 148 138 Prepaid expenses 98 98 Total current assets $ 612 $ 534 Current liabilities: Accounts payable $ 208 $ 188 Accrued liabilities 38 38 Notes payable, short term 98 88 Total current liabilities $ 344 $ 314 Sales on account during the year totaled $1,240 thousand. Cost of...

Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...

Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets $ 340 390 310 Current assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Plant and equipment, net Total assets $ 225 370 340 20 955 1,210 $2,165 1.060 1,340 $2,400 $ 310 50 $ 340 50 40 400 300 Liabilities and stockholders' Equity Current liabilities Accounts payable Accrued...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...

Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash $ 235 $ 360 Accounts receivable, net 390 410 Inventory 360 330 Prepaid expenses 20 20 Total current assets 1,005 1,120 Plant and equipment, net 1,270 1,420 Total assets $ 2,275 $ 2,540 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 330 $ 360 Accrued liabilities 50...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...

Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash $ 235 $ 360 Accounts receivable, net 390 410 Inventory 360 330 Prepaid expenses 20 20 Total current assets 1,005 1,120 Plant and equipment, net 1,270 1,420 Total assets $ 2,275 $ 2,540 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 330 $ 360 Accrued liabilities 50...

Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...

Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash $ 170 $ 230 Accounts receivable, net 260 280 Inventory 230 200 Prepaid expenses 20 20 Total current assets 680 730 Plant and equipment, net 880 900 Total assets $ 1,560 $ 1,630 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 200 $ 230 Accrued liabilities 50...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...

Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets $ $ 225 370 340 340 390 310 Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Plant and equipment, net Total assets 20 955 1,210 $2,165 20 1,060 1,340 $2,400 $ $ 340 310 50 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable,...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...

Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash $ 170 $ 230 Accounts receivable, net 260 280 Inventory 230 200 Prepaid expenses 20 20 Total current assets 680 730 Plant and equipment, net 880 900 Total assets $ 1,560 $ 1,630 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 200 $ 230 Accrued liabilities 50...

Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...

Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Assets Current assets: Cash $ 205 $ 300 Accounts receivable, net 330 350 Inventory 300 270 Prepaid expenses 20 20 Total current assets 855 940 Plant and equipment, net 1,090 1,180 Total assets $ 1,945 $ 2,120 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 270 $ 300 Accrued liabilities 50...

Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Year 2...

Homework Answers