Homework Answers
| Before the transaction | After the transaction | ||
| Working Capital | $ 2,19,000 | $ 2,19,000 | |
| Current Ratio | 1.79 | 1.69 | |
| Workings: | |||
| Before the transaction | After the transaction | ||
| (a) | [(a) + $40000] | ||
| (i) | Current Assets | $ 4,95,000 | $ 5,35,000 |
| (ii) | Current Liabilities | $ 2,76,000 | $ 3,16,000 |
| Working Capital | $ 2,19,000 | $ 2,19,000 | |
| (i) / (ii) | Current Ratio | 1.79 | 1.69 |
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On June 30, 2018, Vernon Company's total current assets were $495.000 and its total current liabilities...
On June 30, 2018, Vernon Company's total current assets were $496,000 and its total current liabilities were $279,0...
On June 30, 2018, Vernon Company's total current assets were $496,000 and its total current liabilities were $279,000. On July 1, 2018, Vernon issued a long-term note to a bank for $38,400 cash. Required a. Compute Vernon's working capital before and after issuing the note. b. Compute Vernon's current ratio before and after issuing the note. (Round your answers to 1 decimal place.) Before the After the transaction transaction a. Working Capital b. Current Ratio
On June 30, 2018, Stuart Company's total current assets were $502,500 and its total current liabilities...
On June 30, 2018, Stuart Company's total current assets were $502,500 and its total current liabilities were $275,500. On July 1, 2018, Stuart issued a short-term note to a bank for $41,000 cash. Required a. Compute Stuart's working capital before and after issuing the note. b. Compute Stuart's current ratio before and after issuing the note. (Round your answers to 2 decimal places.) Before the transaction After the transaction a. Working Capital b. Current Ratio
On June 30, 2018, Baird Company's total current assets were $504,500 and its total current liabilities...
On June 30, 2018, Baird Company's total current assets were $504,500 and its total current liabilities were $277,500. On July 1, 2018, Baird issued a short-term note to a bank for $41,600 cash. Required a. Compute Baird's working capital before and after issuing the note. b. Compute Baird's current ratio before and after issuing the note. (Round your answers to 2 decimal places.) Before the transaction After the transaction a. Working Capital b. Current Ratio
On June 30, 2018, Franza Company's total current assets were $900,000 and its total current liabilities...
On June 30, 2018, Franza Company's total current assets were $900,000 and its total current liabilities were $360,000. On July 1 2018, Franza issued a short-term note to a bank for $72,000 cash. 275 Required points a. Compute Franza's working capital before and after issuing the note. b. Compute Franza's current ratio before and after issuing the note. (Round your answers to 2 decimal places.) Before the transaction After the transaction a. Working Captal Current Ratio Beforences
On June 30, 2018, Franza Company's total current assets were $900,000 and its total current liabilities...
On June 30, 2018, Franza Company's total current assets were $900,000 and its total current liabilities were $360,000. On July 1 2018, Franza issued a short-term note to a bank for $72,000 cash. 275 Required points a. Compute Franza's working capital before and after issuing the note. b. Compute Franza's current ratio before and after issuing the note. (Round your answers to 2 decimal places.) Before the transaction After the transaction a. Working Captal Current Ratio Beforences
On June 30, 2018. Campbell Company's total current assets were $496,500 and its total current liabilities...
On June 30, 2018. Campbell Company's total current assets were $496,500 and its total current liabilities were $279,000. On July 1, 2018, Campbell issued a short-term note to a bank for $40,200 cash. Required a. Compute Campbell's working capital before and after issuing the note. b. Compute Campbell's current ratio before and after issuing the note. (Round your answers to 2 decimal places.) Before the transaction $ 217,500 1.77 ® Working I Capital Current Ratio After the transaction $ 217,500...
On June 30, 2018, Campbell Company’s total current assets were $503,500 and its total current liabilities...
On June 30, 2018, Campbell Company’s total current assets were $503,500 and its total current liabilities were $270,500. On July 1, 2018, Campbell issued a short-term note to a bank for $40,600 cash. Required Compute Campbell’s working capital before and after issuing the note. Compute Campbell’s current ratio before and after issuing the note. (Round your answers to 2 decimal places.) Before the transaction After the transaction a. Working Capital b. Current Ratio On June 30, 2018, Solomon Company’s total...
On June 30, 2018, Rundle Company's total current assets were $498,500 and its total current liabilities...
On June 30, 2018, Rundle Company's total current assets were $498,500 and its total current liabilities were $277,500. On July 1, 2018, Rundle issued a long-term note to a bank for $41,800 cash. Required a. Compute Rundle's working capital before and after issuing the note. b. Compute Rundle's current ratio before and after issuing the note. (Round your answers to 1 decimal place.) Before the transaction After the transaction a. Working Capital b. Current Ratio
On June 30, 2018, Rooney Company's total current assets were $504,500 and its total current liabilities...
On June 30, 2018, Rooney Company's total current assets were $504,500 and its total current liabilities were $272,000. On July 1. 2018, Rooney issued a long-term note to a bank for $40,600 cash. Required a. Compute Rooney's working capital before and after issuing the note. b. Compute Rooney's current ratio before and after issuing the note. (Round your answers to 1 decimal place.) Before the transaction After the transaction a. Working Capital b. Current Ratio
Norsk Optronics, ALS, of Bergen, Norway, had a current ratio of 2 on June 30 of...
Norsk Optronics, ALS, of Bergen, Norway, had a current ratio of 2 on June 30 of the current year. On that date, the company's assets were: Cash Accounts receivable, net Inventory Prepaid expenses Plant and equipment, net Total assets $ 80,000 400,000 660,000 10,000 1,860,000 $3,010,000 Required: 1. What was the company's working capital on June 30? 2. What was the company's acid-test ratio on June 30? (Round your answer to 2 decimal places.) 3. The company paid an account...
On June 30, 2018, Vernon Company's total current assets were $496,000 and its total current liabilities were $279,000. On July 1, 2018, Vernon issued a long-term note to a bank for $38,400 cash. Required a. Compute Vernon's working capital before and after issuing the note. b. Compute Vernon's current ratio before and after issuing the note. (Round your answers to 1 decimal place.) Before the After the transaction transaction a. Working Capital b. Current Ratio
On June 30, 2018, Stuart Company's total current assets were $502,500 and its total current liabilities were $275,500. On July 1, 2018, Stuart issued a short-term note to a bank for $41,000 cash. Required a. Compute Stuart's working capital before and after issuing the note. b. Compute Stuart's current ratio before and after issuing the note. (Round your answers to 2 decimal places.) Before the transaction After the transaction a. Working Capital b. Current Ratio
On June 30, 2018, Baird Company's total current assets were $504,500 and its total current liabilities were $277,500. On July 1, 2018, Baird issued a short-term note to a bank for $41,600 cash. Required a. Compute Baird's working capital before and after issuing the note. b. Compute Baird's current ratio before and after issuing the note. (Round your answers to 2 decimal places.) Before the transaction After the transaction a. Working Capital b. Current Ratio
On June 30, 2018, Franza Company's total current assets were $900,000 and its total current liabilities were $360,000. On July 1 2018, Franza issued a short-term note to a bank for $72,000 cash. 275 Required points a. Compute Franza's working capital before and after issuing the note. b. Compute Franza's current ratio before and after issuing the note. (Round your answers to 2 decimal places.) Before the transaction After the transaction a. Working Captal Current Ratio Beforences
On June 30, 2018, Franza Company's total current assets were $900,000 and its total current liabilities were $360,000. On July 1 2018, Franza issued a short-term note to a bank for $72,000 cash. 275 Required points a. Compute Franza's working capital before and after issuing the note. b. Compute Franza's current ratio before and after issuing the note. (Round your answers to 2 decimal places.) Before the transaction After the transaction a. Working Captal Current Ratio Beforences
On June 30, 2018. Campbell Company's total current assets were $496,500 and its total current liabilities were $279,000. On July 1, 2018, Campbell issued a short-term note to a bank for $40,200 cash. Required a. Compute Campbell's working capital before and after issuing the note. b. Compute Campbell's current ratio before and after issuing the note. (Round your answers to 2 decimal places.) Before the transaction $ 217,500 1.77 ® Working I Capital Current Ratio After the transaction $ 217,500...
On June 30, 2018, Rundle Company's total current assets were $498,500 and its total current liabilities were $277,500. On July 1, 2018, Rundle issued a long-term note to a bank for $41,800 cash. Required a. Compute Rundle's working capital before and after issuing the note. b. Compute Rundle's current ratio before and after issuing the note. (Round your answers to 1 decimal place.) Before the transaction After the transaction a. Working Capital b. Current Ratio
On June 30, 2018, Rooney Company's total current assets were $504,500 and its total current liabilities were $272,000. On July 1. 2018, Rooney issued a long-term note to a bank for $40,600 cash. Required a. Compute Rooney's working capital before and after issuing the note. b. Compute Rooney's current ratio before and after issuing the note. (Round your answers to 1 decimal place.) Before the transaction After the transaction a. Working Capital b. Current Ratio
Norsk Optronics, ALS, of Bergen, Norway, had a current ratio of 2 on June 30 of the current year. On that date, the company's assets were: Cash Accounts receivable, net Inventory Prepaid expenses Plant and equipment, net Total assets $ 80,000 400,000 660,000 10,000 1,860,000 $3,010,000 Required: 1. What was the company's working capital on June 30? 2. What was the company's acid-test ratio on June 30? (Round your answer to 2 decimal places.) 3. The company paid an account...
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