Current ratio = | Current assets/current liabilities | |||||||
1.4 | = | x/455,000 | ||||||
current assets (x)= | 455000*1.4 | |||||||
637000 | ||||||||
Quick ratio = | quick assets/current liabilities | |||||||
0.94 | = | x/455,000 | ||||||
current assets (x)= | 455000*.94 | |||||||
427700 | ||||||||
difference in current assets and quick ratio is due to inventory | ||||||||
637000-427700 | ||||||||
209300 | ||||||||
now | ||||||||
inventory turnover = | cost of goods sold/inventory | |||||||
7 | = | x /209300 | ||||||
so cost of goods sold = | 209300*7 | |||||||
1465100 | answer |
Saved HMW Chapter 3 10 Highly Suspect Corp. has current liabilities of $455,000, a quick ratio...
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Instructions For 2017 and 2018, calculate current ratio, quick (acid-test) ratio, inventory turnover and days' inventory outstanding (DIO), accounts receivable turnover, days' sales in average receivables or days' sales outstanding (DSO), accounts payable turnover, days' payable outstanding (DPO), and cash conversion cycle (in days). a. Use the cost of goods sold in the formula for accounts payable turnover. b. Use a 365-day year for calculations as needed. c. Use cell references from prior calculations, if applicable. (Always use cell references...
Instructions For 2017 and 2018, calculate current ratio, quick (acid-test) ratio, inventory turnover and days' inventory outstanding (DIO), accounts receivable turnover, days' sales in average receivables or days' sales outstanding (DSO), accounts payable turnover, days' payable outstanding (DPO), and cash conversion cycle (in days). a. Use the cost of goods sold in the formula for accounts payable turnover. b. Use a 365-day year for calculations as needed. c. Use cell references from prior calculations, if applicable. (Always use cell references...
Chapter 18 Saved Help Save & Exit Submit Check my work MF Corp. has an ROE of 15% and a plowback ratio of 40%. The market capitalization rate is 13%. a. If the coming year's earnings are expected to be $2.10 per share, at what price will the stock sell? (Do not round intermediate calculations. Round your answer to 2 decimal places.) points Price eBook Print References b. What price do you expect MF shares to sell for in three...
Print Item Calculator eBook Quick Ratio Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years. Current Year Previous Year Current assets: Cash $500,000 444,000 274,000 $1,218,000 $673,000 317,000 267,000 $1,257,000 Accounts receivable Inventory Total current assets Current liabilities: $83,000 $94,000 Current portion of long-term debt 189,000 165,000 Accounts payable 307,000 302,000 Accrued and other current liabilities $590,000 $550,000 Total current liabilities a. Determine the quick ratio for December 31 of both years. If...