Homework Answers
| Total Liquid assets for 2018: | ||||
| Cash | 50,000 | |||
| Short-Term investment | 17,500 | |||
| Net Accounts receivable | 46,000 | |||
| Total Liquid assets for 2018: | 1,13,500 | |||
| Total Current Liabilities for 2018: | ||||
| Accounts payable | 1,32,000 | |||
| Salaries payable | 14,000 | |||
| Total Current Liabilities for 2018: | 1,46,000 | |||
| Acid Test ratio for 2018: | ||||
| Total Liquid assets for 2018 | 1,13,500 | |||
| Divide: Total Current liabilities for 2018 | 1,46,000 | |||
| Acid Test ratio for 2018: | 0.78 | |||
| Answer is C. 0.78 | ||||
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This Question: 2 pts 13 of 40 (12 complete The financial statements for Silver Service Company...
8) The financial statements for Silver Service Company include the following items: 2019 2018 Cash Short-term...
8) The financial statements for Silver Service Company include the following items: 2019 2018 Cash Short-term Investments Net Accounts Receivable Merchandise Inventory Total Assets Accounts Payable Salaries Payable Long-term Note Payable $50,500 26,000 52,000 131,000 532,000 132,500 16,000 57,000 $42,000 14,500 48,000 51,000 548,000 127,000 16,000 57,000 Compute the acid-test ratio for 2018. (Round your answer to two decimal places) A) 0.87 B) 0.73 C) 0.82 D) 0.63
QUESTION 9 The financial statements for Myers Service Company include the following items: 2017 2016 Cash...
QUESTION 9 The financial statements for Myers Service Company include the following items: 2017 2016 Cash Short-term Investments Net Accounts Receivable Merchandise Inventory Total Assets Accounts Payable Salaries Payable Long-term Note Payable $51,500 27,000 55,000 131,000 528,000 129,500 23,000 60,000 $49,000 13,500 52000 47,000 553,000 1 24,000 19,000 60,000 Compute the acid-test ratio for 2016. (Round your answer to two decimal places) O 0.92 0.80 0.88 O 0.71
This Question: 2 pts 37 of 40 (33c The financial statements of Carrier Office Furniture Company...
This Question: 2 pts 37 of 40 (33c The financial statements of Carrier Office Furniture Company include the following items: 2019 2018 Cash Short-term Investments Net Accounts Receivable Merchandise Inventory Total Assets Total Current Liabilities Long-term Note Payable $49,500 29,000 97,000 162,000 534,000 271,000 57.000 $45,000 10,000 103,000 150,000 550,000 293,000 52,000 What is working capital for 2019? O A. $206,000 O B. $66,500 O c. $37,500 OD. $95,500 Click to select your answer sty W
I need help with K. through S. PLEASE! Financial statements for Solomon Company follow. SOLOMON COMPANY...
I need help with K. through S. PLEASE! Financial statements for Solomon Company follow. SOLOMON COMPANY Balance Sheets As of December 31 2019 2018 Assets Current assets Cash $ 23,000 $ 19,000 Marketable securities 21,400 7,400 Accounts receivable (net) 55,000 47,000 Inventories 140,000 148,000 Prepaid items 29,000 14,000 Total current assets 268,400 235,400 Investments 32,000 25,000 Plant (net) 280,000 265,000 Land 32,000 27,000 Total assets $ 612,400 $ 552,400 Liabilities and Stockholders’ Equity Liabilities Current liabilities Notes payable $ 35,400...
Financial statements for Solomon Company follow. SOLOMON COMPANY Balance Sheets As of December 31 2019 2018...
Financial statements for Solomon Company follow. SOLOMON COMPANY Balance Sheets As of December 31 2019 2018 $ 23,000 21,400 55,000 140,000 29,000 268,400 32,000 280,000 32,000 $612,400 $ 19,000 7,400 47,000 148,000 14,000 235,400 25,000 265,000 27,000 $552,400 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable Other...
I need help with e. through s. PLEASE! Financial statements for Solomon Company follow. SOLOMON COMPANY...
I need help with e. through s. PLEASE! Financial statements for Solomon Company follow. SOLOMON COMPANY Balance Sheets As of December 31 2019 2018 Assets Current assets Cash $ 23,000 $ 19,000 Marketable securities 21,400 7,400 Accounts receivable (net) 55,000 47,000 Inventories 140,000 148,000 Prepaid items 29,000 14,000 Total current assets 268,400 235,400 Investments 32,000 25,000 Plant (net) 280,000 265,000 Land 32,000 27,000 Total assets $ 612,400 $ 552,400 Liabilities and Stockholders’ Equity Liabilities Current liabilities Notes payable $ 35,400...
8) The financial statements for Silver Service Company include the following items: 2019 2018 Cash Short-term Investments Net Accounts Receivable Merchandise Inventory Total Assets Accounts Payable Salaries Payable Long-term Note Payable $50,500 26,000 52,000 131,000 532,000 132,500 16,000 57,000 $42,000 14,500 48,000 51,000 548,000 127,000 16,000 57,000 Compute the acid-test ratio for 2018. (Round your answer to two decimal places) A) 0.87 B) 0.73 C) 0.82 D) 0.63
QUESTION 9 The financial statements for Myers Service Company include the following items: 2017 2016 Cash Short-term Investments Net Accounts Receivable Merchandise Inventory Total Assets Accounts Payable Salaries Payable Long-term Note Payable $51,500 27,000 55,000 131,000 528,000 129,500 23,000 60,000 $49,000 13,500 52000 47,000 553,000 1 24,000 19,000 60,000 Compute the acid-test ratio for 2016. (Round your answer to two decimal places) O 0.92 0.80 0.88 O 0.71
This Question: 2 pts 37 of 40 (33c The financial statements of Carrier Office Furniture Company include the following items: 2019 2018 Cash Short-term Investments Net Accounts Receivable Merchandise Inventory Total Assets Total Current Liabilities Long-term Note Payable $49,500 29,000 97,000 162,000 534,000 271,000 57.000 $45,000 10,000 103,000 150,000 550,000 293,000 52,000 What is working capital for 2019? O A. $206,000 O B. $66,500 O c. $37,500 OD. $95,500 Click to select your answer sty W
Financial statements for Solomon Company follow. SOLOMON COMPANY Balance Sheets As of December 31 2019 2018 $ 23,000 21,400 55,000 140,000 29,000 268,400 32,000 280,000 32,000 $612,400 $ 19,000 7,400 47,000 148,000 14,000 235,400 25,000 265,000 27,000 $552,400 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable Other...
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