Use the following information to calculate the current ratio; current liabilities $25,000, long term liabilities $50,000,...
Use the following information to calculate the current ratio; current liabilities $25,000, long term liabilities $50,000, cash $10,000, inventory $30,000, accounts receivable $30,000.
Homework Answers
Current assets=Cash+inventory+AR
=10,000+30,000+30,000
=$70,000
Current ratio=Current assets/Current liabilities
=$70,000/25000
=2.8
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Use the following information to calculate the current ratio;
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Assuming the following information calculate the acid (quick) ratio: current liabilities $25,000. long term liabilities $50,000, cash $10,000, inventory $30,000, accounts receivable $30,000.
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Using the information below, what is the current ratio for Raynee? (current assets/current liabilities) The following...
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Use the information in the adjusted trial balance presented below to calculate the current ratio for...
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prepaid expenses = $50,000 Problem 3 Calculate the following information: 1. Quick ratio 2. Accounts receivable...
prepaid expenses = $50,000
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(prepaid expenses are $50,000) Problem 3 Calculate the following information: 1. Quick ratio 2. Accounts receivable...
(prepaid expenses are $50,000)
Problem 3 Calculate the following information: 1. Quick ratio 2. Accounts receivable turnover ratio 3. Net return on total assets 4. Total liabilities to total assets ratio 5. Times interest earned ratio 6. Return on sales 7. Return on equity Sales: $750,000 Cash: $50,000 Inventory: $150,000 Common Stock: $100,000 Accounts Payable: $100,000 Prepaid expenses: $50,000 Long term debt: $200,000 Land and Building: $500,000 Operating Income: $450,000 Taxes: $200,000 Accounts Receivable: $70,000 Retained Earnings: $400,000 Cost of...
Calculate the Quick Ratio for this year PETE'S POTATO & PASTA, INC. BALANCE SHEET ENDING DECEMBER...
Calculate the Quick Ratio for this
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PETE'S POTATO & PASTA, INC. BALANCE SHEET ENDING DECEMBER 31st ASSETS This year Last year $ Current assets Cash and cash equivalents Accounts receivable Inventory Total current assets 10,000 35,000 25,000 70,000 10,000 30,000 20.000 60,000 $ Fixed assets Plants and machinery Less depreciation Land Intangible Assets TOTAL ASSETS 20,000 -12,000 8,000 2,000 88,000 20,000 -10,000 8,000 1,500 79,500 LIABILITIES and SHAREHOLDERS' EQUITY $ Liabilities Accounts payable Taxes payable Long-term bonds issued TOTAL...
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prepaid expenses = $50,000
Problem 3 Calculate the following information: 1. Quick ratio 2. Accounts receivable turnover ratio 3. Net return on total assets 4. Total liabilities to total assets ratio 5. Times interest earned ratio 6. Return on sales 7. Return on equity Sales: $750,000 Cash: $50,000 Inventory: $150,000 Common Stock: $100,000 Accounts Payable: $100,000 Prepaid expenses: $50,000 Long term debt: $200,000 Land and Building: $500,000 Operating Income: $450,000 Taxes: $200,000 Accounts Receivable: $70,000 Retained Earnings: $400,000 Cost of...
(prepaid expenses are $50,000)
Problem 3 Calculate the following information: 1. Quick ratio 2. Accounts receivable turnover ratio 3. Net return on total assets 4. Total liabilities to total assets ratio 5. Times interest earned ratio 6. Return on sales 7. Return on equity Sales: $750,000 Cash: $50,000 Inventory: $150,000 Common Stock: $100,000 Accounts Payable: $100,000 Prepaid expenses: $50,000 Long term debt: $200,000 Land and Building: $500,000 Operating Income: $450,000 Taxes: $200,000 Accounts Receivable: $70,000 Retained Earnings: $400,000 Cost of...
Calculate the Quick Ratio for this
year
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