Homework Answers
The current ration for the year 2 is calculated using formula :Current ratio= Current assets/ current liabilities
Thus current ratio will be
=$626/$302
=2.07
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Data from Dunshee Corporation's most recent balance sheet appear below: Year 2 Year 1 Current assets:...
Excerpts from Colter Corporation's most recent balance sheet appear below: Year 2 Year 1 Current assets:...
Excerpts from Colter Corporation's most recent balance sheet appear below: Year 2 Year 1 Current assets: Cash $ 107 $ 137 Accounts receivable, net 134 144 Inventory 221 211 Prepaid expenses 57 57 Total current assets 519 549 Total current liabilities $ 388 $ 375 Sales on account in Year 2 amounted to $1,635 and the cost of goods sold was $975. The acid-test (quick) ratio at the end of Year 2 is closest to: 1.00 0.77 0.62 1.34
Excerpts from Colter Corporation's most recent balance sheet appear below: Year 2 Year 1 Current assets:...
Excerpts from Colter Corporation's most recent balance sheet appear below: Year 2 Year 1 Current assets: Cash $ 90 $ 120 Accounts receivable, net 100 110 Inventory 170 160 Prepaid expenses 40 40 Total current assets $ 400 $ 430 Total current liabilities $ 320 $ 290 Sales on account in Year 2 amounted to $1,210 and the cost of goods sold was $720. The acid-test (quick) ratio at the end of Year 2 is closest to:
Excerpts from Sydner Corporation's most recent balance sheet appear below: Year 2 Year 1 Current assets:...
Excerpts from Sydner Corporation's most recent balance sheet appear below: Year 2 Year 1 Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets $150 220 260 15 $645 $165 240 215 15 $635 Total current liabilities $380 $355 Sales on account in Year 2 amounted to $1,515 and the cost of goods sold was $975. The acid-test (quick) ratio at the end of Year 2 is closest to: 1 0 0 0 0
Data from Dunshee Corporation's most recent balance sheet appear below: Year 2 Year 1. $116 322...
Data from Dunshee Corporation's most recent balance sheet appear below: Year 2 Year 1. $116 322 Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets $146 302 138 26 $612 158 26 $622 Total current liabilities $294 $300 Sales on account in Year 2 amounted to $1,570 and the cost of goods sold was $970. The working capital at the end of Year 2 is: Multiple Choice $994 $612 $884 $318
Freiman Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...
Freiman 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: $ 174 $ 134 Cash Accounts receivable, net 255 275 Inventory 134 144 Prepaid expenses 47 47 Total current assets 600 610 Plant and equipment, net 770 770 $1,380 $1,370 Total assets Liabilities and Stockholders' Equity Current liabilities: 144 164 Accounts payable Accrued liabilities 97 97 Notes payable, short...
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 Accounts receivable, net Inventory Prepaid expenses Total current assets Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities $164 194 144 94 $596 $100 194 134 94 $522 $204 $184 34 34 94 84 $332 $302 Sales on account during the year totaled $1,220 thousand. Cost of goods sold was $820 thousand. Required: Compute the...
Multiple Choice 4.09 3.75 0.83 1.20 Excerpts from Sydner Corporation's most recent balance sheet appear below:...
Multiple Choice
4.09
3.75
0.83
1.20
Excerpts from Sydner Corporation's most recent balance sheet appear below: Year 2 Year 1 $160 230 Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets $ 140 210 240 10 200 10 $600 $360 $ 600 $330 Total current liabilities Sales on account in Year 2 amounted to $1,390 and the cost of goods sold was $900. The inventory turnover for Year 2 is closest to:
$540 $710 $140 $1,050 Excerpts from Colter Corporation's most recent balance sheet appear below: Year 2...
$540 $710 $140 $1,050 Excerpts from Colter Corporation's most recent balance sheet appear below: Year 2 Year 1 Current assets: Cash $ 110 $ 140 Accounts receivable, net 140 150 Inventory 230 220 Prepaid expenses 60 60 Total current assets 540 570 Total current liabilities $ 400 $ 390 Sales on account in Year 2 amounted to $1,710 and the cost of goods sold was $1,020. The working capital at the end of Year 2 is:
Freiman Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...
Freiman 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 $ 160 $ 120 Accounts receivable, net 220 240 Inventory 120 130 Prepaid expenses 40 40 Total current assets 540 530 Plant and equipment, net 700 700 Total assets $ 1,240 $ 1,230 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 130 $ 150 Accrued liabilities 90...
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 Sydner Corporation's most recent balance sheet appear below: Year 2 Year 1 Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets $150 220 260 15 $645 $165 240 215 15 $635 Total current liabilities $380 $355 Sales on account in Year 2 amounted to $1,515 and the cost of goods sold was $975. The acid-test (quick) ratio at the end of Year 2 is closest to: 1 0 0 0 0
Data from Dunshee Corporation's most recent balance sheet appear below: Year 2 Year 1. $116 322 Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets $146 302 138 26 $612 158 26 $622 Total current liabilities $294 $300 Sales on account in Year 2 amounted to $1,570 and the cost of goods sold was $970. The working capital at the end of Year 2 is: Multiple Choice $994 $612 $884 $318
Freiman 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: $ 174 $ 134 Cash Accounts receivable, net 255 275 Inventory 134 144 Prepaid expenses 47 47 Total current assets 600 610 Plant and equipment, net 770 770 $1,380 $1,370 Total assets Liabilities and Stockholders' Equity Current liabilities: 144 164 Accounts payable Accrued liabilities 97 97 Notes payable, short...
Excerpts from Candle Corporation's most recent balance sheet (in thousands of dollars) appear below: Year 2 Year 1 Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities $164 194 144 94 $596 $100 194 134 94 $522 $204 $184 34 34 94 84 $332 $302 Sales on account during the year totaled $1,220 thousand. Cost of goods sold was $820 thousand. Required: Compute the...
Multiple Choice
4.09
3.75
0.83
1.20
Excerpts from Sydner Corporation's most recent balance sheet appear below: Year 2 Year 1 $160 230 Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets $ 140 210 240 10 200 10 $600 $360 $ 600 $330 Total current liabilities Sales on account in Year 2 amounted to $1,390 and the cost of goods sold was $900. The inventory turnover for Year 2 is closest to:
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