A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as...
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows.
| Assets | Liabilities & Stockholders' Equity | ||||||||
| Cash | $ | 112,000 | Notes payable (due in 6 months) | $ | 47,000 | ||||
| Accounts receivable | 120,000 | Accounts payable | 114,000 | ||||||
| Inventory | 290,000 | Long-term liabilities | 362,000 | ||||||
| Prepaid expenses | 60,000 | Capital stock, $5 par | 300,000 | ||||||
| Plant & equipment (net) | 570,000 | Retained earnings | 419,000 | ||||||
| Other assets | 90,000 | ||||||||
| Total | $ | 1,242,000 | Total | $ | 1,242,000 | ||||
During the year, the company earned a gross profit of $1,116,000 on sales of $2,950,000. Accounts receivable, inventory, and plant assets remained almost constant in amount throughout the year, so year-end figures may be used rather than averages.
a. Compute the current ratio. (Round your answer to 2 decimal place.)
b. Compute the quick ratio. (Round your answer to 2 decimal place.)
c. Compute the working capital.
d. Compute the debt ratio. (Round your percentage answers to nearest whole percent. i.e. 0.1234 as 12%.)
e. Compute the accounts receivable turnover (all sales were on credit). (Round your answer to 2 decimal places.)
f. Compute the inventory turnover. (Round your answer to 2 decimal places.)
g. Compute the book value per share of capital stock. (Round your answer to 2 decimal places.)
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A condensed balance sheet for Bradford Corporation prepared at
the end of the year appears as...
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as...
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows. Assets Liabilities & Stockholders' Equity Cash $ 107,000 Notes payable (due in 6 months) $ 44,000 Accounts receivable 120,000 Accounts payable 118,000 Inventory 270,000 Long-term liabilities 328,000 Prepaid expenses 60,000 Capital stock, $5 par 300,000 Plant & equipment (net) 570,000 Retained earnings 427,000 Other assets 90,000 Total $ 1,217,000 Total $ 1,217,000 During the year, the company earned a gross profit of $1,116,000...
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as...
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows. Assets Liabilities & Stockholders' Equity Cash $ 114,000 Notes payable (due in 6 months) $ 48,000 Accounts receivable 100,000 Accounts payable 97,000 Inventory 260,000 Long-term liabilities 316,000 Prepaid expenses 60,000 Capital stock, $5 par 300,000 Plant & equipment (net) 570,000 Retained earnings 433,000 Other assets 90,000 Total $ 1,194,000 Total $ 1,194,000 During the year, the company earned a gross profit of $1,116,000...
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as...
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows. Assets Liabilities & Stockholders' Equity Cash $ 104,000 Notes payable (due in 6 months) $ 45,000 Accounts receivable 100,000 Accounts payable 122,000 Inventory 270,000 Long-term liabilities 321,000 Prepaid expenses 60,000 Capital stock, $5 par 300,000 Plant & equipment (net) 570,000 Retained earnings 406,000 Other assets 90,000 Total $ 1,194,000 Total $ 1,194,000 During the year, the company earned a gross profit of $1,116,000...
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as...
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows. Assets Liabilities & Stockholders' Equity Cash $ 119,000 Notes payable (due in 6 months) $ 48,000 Accounts receivable 120,000 Accounts payable 105,000 Inventory 290,000 Long-term liabilities 360,000 Prepaid expenses 60,000 Capital stock, $5 par 300,000 Plant & equipment (net) 570,000 Retained earnings 436,000 Other assets 90,000 Total $ 1,249,000 Total $ 1,249,000 During the year, the company earned a gross profit of $1,116,000...
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as...
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows. Assets Cash Accounts receivable Inventory Prepaid expenses Plant & equipment (net) Other assets Total 113,000 150,000 290,000 60,000 570,000 90,000 $ 1,273,000 Liabilities & Stockholders' Equity Notes payable (due in 6 months) $ 48,000 Accounts payable 112,000 Long-term liabilities 376,000 Capital stock, $5 par 300,000 Retained earnings 437,000 Total $ 1,273,000 During the year, the company earned a gross profit of $1,116,000 on...
Chi A condensed balance sheet for Bradford Corporation prepared at the end of the year appears...
Chi A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows. Assets Cash Accounts receivable Inventory Prepaid expenses Plant & equipment (net) Other assets Total Liabilities & Stockholders' Equity $ 102,000N otes payable (due in 6 months) $ 49,000 140,000 Accounts payable 102,000 270,000 Long-term liabilities 363,000 60,000 Capital stock, $5 par 300,000 570,000 Retained earnings 418,000 90,000 $1,232,000 Total $ 1,232,000 During the year, the company earned a gross profit of $1,116,000...
How do I figure E. and F. I have done all of the other parts and they are correct but I can't get the correct answer...
How do I figure E. and F.
I have done all of the other parts and they are correct but I can't
get the correct answer on those 2.
Uvutage viewer Google Forms - US Boone County Sign... Columbia Water 8 mework Saved A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows. Assets Cash Accounts receivable Inventory Prepaid expenses Plant & equipment (net) Other assets Total 111, oee 150, eee 290,000 60,...
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...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...
Hyrkas 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 $ 340 390 310 Current assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Plant and equipment, net Total assets $ 225 370 340 20 955 1,210 $2,165 1.060 1,340 $2,400 $ 310 50 $ 340 50 40 400 300 Liabilities and stockholders' Equity Current liabilities Accounts payable Accrued...
Hyrkas Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year...
Hyrkas 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 $ $ 225 370 340 340 390 310 Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Plant and equipment, net Total assets 20 955 1,210 $2,165 20 1,060 1,340 $2,400 $ $ 340 310 50 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable,...
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows. Assets Cash Accounts receivable Inventory Prepaid expenses Plant & equipment (net) Other assets Total 113,000 150,000 290,000 60,000 570,000 90,000 $ 1,273,000 Liabilities & Stockholders' Equity Notes payable (due in 6 months) $ 48,000 Accounts payable 112,000 Long-term liabilities 376,000 Capital stock, $5 par 300,000 Retained earnings 437,000 Total $ 1,273,000 During the year, the company earned a gross profit of $1,116,000 on...
Chi A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows. Assets Cash Accounts receivable Inventory Prepaid expenses Plant & equipment (net) Other assets Total Liabilities & Stockholders' Equity $ 102,000N otes payable (due in 6 months) $ 49,000 140,000 Accounts payable 102,000 270,000 Long-term liabilities 363,000 60,000 Capital stock, $5 par 300,000 570,000 Retained earnings 418,000 90,000 $1,232,000 Total $ 1,232,000 During the year, the company earned a gross profit of $1,116,000...
How do I figure E. and F.
I have done all of the other parts and they are correct but I can't
get the correct answer on those 2.
Uvutage viewer Google Forms - US Boone County Sign... Columbia Water 8 mework Saved A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows. Assets Cash Accounts receivable Inventory Prepaid expenses Plant & equipment (net) Other assets Total 111, oee 150, eee 290,000 60,...
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...
Hyrkas 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 $ 340 390 310 Current assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Plant and equipment, net Total assets $ 225 370 340 20 955 1,210 $2,165 1.060 1,340 $2,400 $ 310 50 $ 340 50 40 400 300 Liabilities and stockholders' Equity Current liabilities Accounts payable Accrued...
Hyrkas 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 $ $ 225 370 340 340 390 310 Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Plant and equipment, net Total assets 20 955 1,210 $2,165 20 1,060 1,340 $2,400 $ $ 340 310 50 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable,...
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