Homework Answers
Answer:
| Current Ratio = Current Assets / Curent Liabilities | |||||
| Quick Ratio = Quick Assets / Current Liabilities | |||||
| Quick Assets = Current Assets - (Inventory + Prepaid Expenses) | |||||
| Current Assets | Quick Assets | Current Liabilities | Current Ratio | Quick Ratio | |
| Feb -1, 2017 | 130,600 | 115,100 | 49,800 | 2.62 : 1 | 2.31 : 1 |
| Feb -3 - Changes In: | |||||
| Accounts Receivable | (14,200) | (14,200) | - | ||
| Cash | 14,200 | 14,200 | - | ||
| Balance - Feb 3 | 130,600 | 115,100 | 49,800 | 2.62 : 1 | 2.31 : 1 |
| Feb -7 - Changes In: | |||||
| Cash | (28,400) | (28,400) | - | ||
| Balance - Feb 7 | 102,200 | 86,700 | 49,800 | 2.05 : 1 | 1.74 : 1 |
| Feb -11 - Changes In: | |||||
| Cash | (2000) | (2000) | - | ||
| Prepaid Insurance | 2000 | - | - | ||
| Balance - Feb 11 | 102,200 | 84,700 | 49,800 | 2.05 : 1 | 1.70 : 1 |
| Feb -14 - Changes In: | |||||
| Accounts Payable | - | - | (13,000) | ||
| Cash | (13,000) | (13,000) | - | ||
| Balance - Feb 14 | 89,200 | 71,700 | 37,800 | 2.36 : 1 | 1.90 : 1 |
| Feb -18 - Changes In: | |||||
| Cash Dividends Payable | - | - | 5,600 | ||
| Balance - Feb 18 | 89,200 | 71,700 | 43,400 | 2.06 : 1 | 1.65 : 1 |
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*Exercise 14-6 Keener Incorporated had the following transactions occur involving current assets and current liabilities during...
*Exercise 18-6 Keener Incorporated had the following transactions occur involving current assets and current liabilities during...
*Exercise 18-6 Keener Incorporated had the following transactions occur involving current assets and current liabilities during February 2017. Feb. 3 Accounts receivable of $14,300 are collected. Equipment is purchased for $27,500 cash. 7 Paid $2,400 for a 1-year insurance policy. 11 Accounts payable of $12,200 are paid. 14 Cash dividends of $4,900 are declared. 18 Additional information: As of February 1, 2017, current assets were $134,200, and current liabilities were $49,000. 1. As of February 1, 2017, current assets included...
Gwynn Incorporated had the following transactions involving current assets and current liabilities during February 2020. Feb....
Gwynn Incorporated had the following transactions involving current assets and current liabilities during February 2020. Feb. 3 Collected accounts receivable of $14,000. 7 Purchased equipment for $27,100 cash. 11 Paid $3,300 for a 1-year insurance policy. 14 Paid accounts payable of $11,000. 18 Declared cash dividends, $5,600. Additional information: As of February 1, 2020, current assets were $133,920, and current liabilities were $49,600. Compute the current ratio as of the beginning of the month and after each transaction. (Round answers...
View Policies Current Attempt in Progress Gwynn Incorporated had the following transactions involving current assets and...
View Policies Current Attempt in Progress Gwynn Incorporated had the following transactions involving current assets and current liabilities during February 2020. Feb. 3 Collected accounts receivable of $14.200 7 Purchased equipment for $28,400 cash. 11 Paid $2,000 for a 1-year insurance policy 14 Paid accounts payable of $13,000. 18 Declared cash dividends, $5,600. Additional information: As of February 1, 2020. current assets were $129,480, and current liabilities were 549,800. 2 decimal places, eg. 1.67.) Compute the current ratio as of...
Gwynn Incorporated had the following transactions involving current assets and current liabilities during February 2020 Feb....
Gwynn Incorporated had the following transactions involving current assets and current liabilities during February 2020 Feb. 3 Collected accounts receivable of $15,700. 7 Purchased equipment for $28,700 cash 11 Paid $ 3,700 for a 1-year insurance policy. 14 Paid accounts payable of $11,700 18 Declared cash dividends, $5,900. Additional information: As of February 1,2020, current assets were $ 130,520, and current liabilities were $ 50,200 Compute the current ratio as of the beginning of the month and after each transaction....
Gwynn Incorporated had the following transactions involving current assets and current liabilities during February 2020. Feb....
Gwynn Incorporated had the following transactions involving current assets and current liabilities during February 2020. Feb. 3 Collected accounts receivable of $14,000. 7 Purchased equipment for $27,800 cash. 11 Paid $2,300 for a 1-year insurance policy. 14 Paid accounts payable of $12,500. 18 Declared cash dividends, $5,700. Additional information: As of February 1, 2020, current assets were $128, 180, and current liabilities were $49,300. Compute the current ratio as of the beginning of the month and after each transaction. (Round...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 13-8 Sage Hill Inc. had the following transactions...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 13-8 Sage Hill Inc. had the following transactions involving current assets and current liabilities during February 2019. Feb. 3 Collected accounts receivable of $18,600. 7 Purchased equipment for $33,200 cash. 11 Paid $2,000 for a 1-year insurance policy. 14 Paid accounts payable of $14,600. 18 Declared cash dividends, $8,200. Additional information: As of February 1, 2019, current assets were $132,700 and current liabilities were $34,600. Compute the current ratio as of the...
Cash Accounts receivable Inventory $1,290 3,195 6,200 Prepaid expenses Accounts payable Other current liabilities $ 700...
Cash Accounts receivable Inventory $1,290 3,195 6,200 Prepaid expenses Accounts payable Other current liabilities $ 700 5,600 900 Use the above information on current assets and current liabilities to compute the acid-test ratio. Acid-Test Ratio Choose Denominator: Choose Numerator: Acid-Test Ratio Acid-test ratio 0 to 1
Cash Accounts receivable Inventory $1,420 2,696 5,600 Prepaid expenses Accounts payable Other current liabilities $ 500...
Cash Accounts receivable Inventory $1,420 2,696 5,600 Prepaid expenses Accounts payable Other current liabilities $ 500 4,300 600 Use the above information on current assets and current liabilities to compute the acid-test ratio. Choose Numerator: Acid-Test Ratio Choose Denominator: = Acid-Test Ratio Acid-test ratio to 1 mm
The following information is available for Marigold Corp. Current assets Total assets Current liabilities Total liabilities...
The following information is available for Marigold Corp. Current assets Total assets Current liabilities Total liabilities Net income Net cash provided by operating activities Preferred dividends Common dividends Expenditures on property, plant, and equipment 2017 $67,200 250,000 28,000 87,500 109,250 90,000 8,000 3,000 28,000 2016 $ 46,340 215,000 33,100 96,750 49,400 56,000 8,000 1,500 13,000 Shares outstanding at beginning of year Shares outstanding at end of year 50,000 85,000 40,000 50.000 (a) Compute earnings per share for 2017 and 2016...
Question 5 of 10 < > Current assets Total assets Current liabilities Total liabilities Net income...
Question 5 of 10 < > Current assets Total assets Current liabilities Total liabilities Net income Net cash provided by operating activities Preferred dividends Common dividends Expenditures on property, plant, and equipment 2017 $ 65,800 260,000 28,000 85,800 113,375 90,000 4,000 4,000 29,000 2016 $49,590 210,000 34,200 105,000 40,000 56,000 4,000 2,000 12,000 Shares outstanding at beginning of year Shares outstanding at end of year 45,000 80,000 35,000 45,000 (a) Compute earnings per share for 2017 and 2016 for Culver....
*Exercise 18-6 Keener Incorporated had the following transactions occur involving current assets and current liabilities during February 2017. Feb. 3 Accounts receivable of $14,300 are collected. Equipment is purchased for $27,500 cash. 7 Paid $2,400 for a 1-year insurance policy. 11 Accounts payable of $12,200 are paid. 14 Cash dividends of $4,900 are declared. 18 Additional information: As of February 1, 2017, current assets were $134,200, and current liabilities were $49,000. 1. As of February 1, 2017, current assets included...
Gwynn Incorporated had the following transactions involving current assets and current liabilities during February 2020. Feb. 3 Collected accounts receivable of $14,000. 7 Purchased equipment for $27,100 cash. 11 Paid $3,300 for a 1-year insurance policy. 14 Paid accounts payable of $11,000. 18 Declared cash dividends, $5,600. Additional information: As of February 1, 2020, current assets were $133,920, and current liabilities were $49,600. Compute the current ratio as of the beginning of the month and after each transaction. (Round answers...
View Policies Current Attempt in Progress Gwynn Incorporated had the following transactions involving current assets and current liabilities during February 2020. Feb. 3 Collected accounts receivable of $14.200 7 Purchased equipment for $28,400 cash. 11 Paid $2,000 for a 1-year insurance policy 14 Paid accounts payable of $13,000. 18 Declared cash dividends, $5,600. Additional information: As of February 1, 2020. current assets were $129,480, and current liabilities were 549,800. 2 decimal places, eg. 1.67.) Compute the current ratio as of...
Gwynn Incorporated had the following transactions involving current assets and current liabilities during February 2020 Feb. 3 Collected accounts receivable of $15,700. 7 Purchased equipment for $28,700 cash 11 Paid $ 3,700 for a 1-year insurance policy. 14 Paid accounts payable of $11,700 18 Declared cash dividends, $5,900. Additional information: As of February 1,2020, current assets were $ 130,520, and current liabilities were $ 50,200 Compute the current ratio as of the beginning of the month and after each transaction....
Gwynn Incorporated had the following transactions involving current assets and current liabilities during February 2020. Feb. 3 Collected accounts receivable of $14,000. 7 Purchased equipment for $27,800 cash. 11 Paid $2,300 for a 1-year insurance policy. 14 Paid accounts payable of $12,500. 18 Declared cash dividends, $5,700. Additional information: As of February 1, 2020, current assets were $128, 180, and current liabilities were $49,300. Compute the current ratio as of the beginning of the month and after each transaction. (Round...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 13-8 Sage Hill Inc. had the following transactions involving current assets and current liabilities during February 2019. Feb. 3 Collected accounts receivable of $18,600. 7 Purchased equipment for $33,200 cash. 11 Paid $2,000 for a 1-year insurance policy. 14 Paid accounts payable of $14,600. 18 Declared cash dividends, $8,200. Additional information: As of February 1, 2019, current assets were $132,700 and current liabilities were $34,600. Compute the current ratio as of the...
Cash Accounts receivable Inventory $1,290 3,195 6,200 Prepaid expenses Accounts payable Other current liabilities $ 700 5,600 900 Use the above information on current assets and current liabilities to compute the acid-test ratio. Acid-Test Ratio Choose Denominator: Choose Numerator: Acid-Test Ratio Acid-test ratio 0 to 1
Cash Accounts receivable Inventory $1,420 2,696 5,600 Prepaid expenses Accounts payable Other current liabilities $ 500 4,300 600 Use the above information on current assets and current liabilities to compute the acid-test ratio. Choose Numerator: Acid-Test Ratio Choose Denominator: = Acid-Test Ratio Acid-test ratio to 1 mm
The following information is available for Marigold Corp. Current assets Total assets Current liabilities Total liabilities Net income Net cash provided by operating activities Preferred dividends Common dividends Expenditures on property, plant, and equipment 2017 $67,200 250,000 28,000 87,500 109,250 90,000 8,000 3,000 28,000 2016 $ 46,340 215,000 33,100 96,750 49,400 56,000 8,000 1,500 13,000 Shares outstanding at beginning of year Shares outstanding at end of year 50,000 85,000 40,000 50.000 (a) Compute earnings per share for 2017 and 2016...
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