Assets 35,952 106,264 133,607 42,857 72,815 96,220 10,922 42,076 53,879 59,754 Cash ACcounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 11,463 316,840 4,490 268,601 297,295 Total assets s 683,326 S 520,109- s 420,800 Liabilities and Equity Accounts payable Long-tern notes payable secured by mortgages on plant assets Common stock, $1e par value 5 148,726 S 85,261 54,99e8 114,56e 119.625 92,067 162,see 162,5ee 162.500 Retained earnings 177,54e asz,723 111,243 Total liabilities and equity S 603,326 S 528,1e9 $ 428,8ee 1. Compute the current ratio for the year ended 2017, 2016, and 2015. 2. Compute the acid-test ratio for the year ended 2017, 2016, and 2015 Complete this question by entering your answers in the tabs below. Required 1 Reired 2 Compute the acid-test ratio for the ye ars ended December 31, 2017, 2016, and 2015. Acid-Test Ratio Choose Numerator 1Choose Denominator: Acid-Test Ration Acd-es: rao 2017 to 1 2016 to1 2015
Homework Answers
ANSWERS
CURRENT RATIO
CURRENT RATIO = TOTAL CURRENT ASSETS/TOTAL CURRENT LIABILITIES
HERE
TOTAL CURRENT ASSETS = CASH + ACCOUNT RECEIVABLES + INVENTORY + PREPAID EXPENSES
TOTAL CURRENT LIABILITIES = ACCOUNT PAYABLE
2017 = $1.93 to 1
2016 = $ 2.61 to 1
2015 = $ 2.91 to 1
ACID TEST RATIO
ACID test ratio = cash+ account receivable+ short term investment / account payable
2017 = $ 1.34 to 1
2016 = $ 1.36 to 1
2015 = $ 1.75 to 1
all explanation is given below in clearly
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At December 31 2017 2816 2815 Assets Cash 35,952 $42,857 42,076 53,879 Accounts receivable, net Merchandise...
Simon Company's year-end balance sheets follow. 2017 2016 2015 $ At December 31 Assets Cash Accounts...
Simon Company's year-end balance sheets follow. 2017 2016 2015 $ At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Longtern notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 28,5315 33,684 $ 33,705 81,039 57, 196 46, 315 180,851 78,665 50, 317 8,912 8,579 3,745 264,248 238,756 213,318 $ 483,581 $ 416,880 $ 347,400 $ 119,208 $...
At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total...
At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by 27,311 31,601 33,587 44,782 101,53376,061 46,744 3,769 171 207,018 467,573 403,080 $335,900 78,356 55, 867 9,062 8,380 251,311231, 115,261 67,43945,226 mortgages on plant assets Conmon stock, $10 par value Retained earnings Total liabilities and equity 89,662 93,635 74,976 162,500 162,500 162,500 100,150 79,506 53,198 467,573 $ 403,080 $ 335,900 1. Compute the current...
Simon Company's year-end balance sheets follow. 2017 2016 2015 At December 31 Assets Cash Accounts receivable,...
Simon Company's year-end balance sheets follow. 2017 2016 2015 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 26,1225 30,846 $ 34,119 79,574 53,981 44,167 97,135 70,612 47,513 8,498 8,261 3,791 240,461 225, 274 205,010 $ 451,799 $ 389,474 $ 334,600 $ 114,746 $ 65,821 $...
201 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets 28,837...
201 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets 28,837 33,e54 34,087 83,579 183,845 9,196 57,844 45,899 47,924 74,166 8,419 249,876 235,597 3,7se 289,240 474,533 489,880 S 340,980 Liabilities and Equity Accounts payable Long-term notes payable secured by $118,159 $ 67,868 44,999 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 98,184 162,580 183,770 474 , 533 74,586 162,5e0162,5ee 58,815 489 ,880 348,980 93,148 86,37238 1. Compute the...
Simon Company's year-end balance sheets follow. Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant...
Simon Company's year-end balance sheets follow. Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-tern notes payable secured by s 31,614 36,954 $ 37,246 52,875 115,20385, 455 56,328 4,406 283,913261,113 231,945 $ 530, 521 457,346 $ 388,900 89,812 64,028 9,979 9, 196 s 136,063 18,064 52,361 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 98,741105, 190 8 666 162, 500 162, 500...
Simon Company's year-end balance sheets follow. 2017 2016 2015 At December 31 Assets Cash Accounts receivable,...
Simon Company's year-end balance sheets follow. 2017 2016 2015 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 28,539 $ 35,423 $ 35,115 86,127 59,584 47.289 106,144 79,53148,856 9,570 9,208 3,941 268, 299 246,150 219,499 $ 498,679 $ 429,896 $ 354,700 $ 125,413 $ 72,652 $ 46,820...
Simon Company's year-end balance sheets follow At December 31 Assets Cash Accounts receivable, net Merchandise inventory...
Simon Company's year-end balance sheets follow At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by 2017 2016 2015 $ 27,328 $ 32,931 $ 33,274 81,653 55,901 46,195 104,717 74,631 50,187 9,254 8,558 3,926 254,553 239,621 212,918 $477,505 $411,642 $346,500 $120,088 $ 71,655 $ 46,195 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 88,873 91,837 75,045...
er 13 Assignment。 Saved Simon Company's year-end balance sheets follow At December 31 Assets Cash Accounts...
er 13 Assignment。 Saved Simon Company's year-end balance sheets follow At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by 29,155 s 32,73e 34,197 85,337 59,639 46,395 198,347 76,468 5,404 3,751 256,846 244,259 213,343 489,260 421,776 348,eee 9,575 8,680 s 119,389 7e,567 $44,558 mortgages on plant assets 91,981 98,949 76,988 162,5e 162,588 162,see 64,834 489, 268 $ 421,776 348,eee ock, $1e par value...
At December 31 2017 2016 2015 Assets Cash $ 33,338 $ 40,138 $38,236 Accounts receivable, net...
At December 31 2017 2016 2015 Assets Cash $ 33,338 $ 40,138 $38,236 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 93,724 125,129 10,521 68,195 91,016 10,127 277,632 53,582 55,403 4,422 242,457 $565,045 $487,108 394,100 302,333 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings $140,696 $ 82,321 50,461 112,035 162,500 130,252 $565,045 $487,108 394,100 109,415 162,500 152,434 85,354 162,500 95,785 Total liabilities and...
Simon Company’s year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 35,286...
Simon Company’s year-end balance sheets follow.
At December 31
2017
2016
2015
Assets
Cash
$
35,286
$
41,246
$
40,887
Accounts receivable, net
101,276
68,676
54,516
Merchandise inventory
124,839
95,381
58,060
Prepaid expenses
11,143
10,407
4,634
Plant assets, net
308,101
284,846
254,903
Total assets
$
580,645
$
500,556
$
413,000
Liabilities and
Equity
Accounts payable
$
143,135
$
86,286
$
55,606
Long-term notes payable secured
by
mortgages on plant assets
111,344
117,430
93,098
Common stock, $10 par value
162,500
162,500...
Simon Company's year-end balance sheets follow. 2017 2016 2015 $ At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Longtern notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 28,5315 33,684 $ 33,705 81,039 57, 196 46, 315 180,851 78,665 50, 317 8,912 8,579 3,745 264,248 238,756 213,318 $ 483,581 $ 416,880 $ 347,400 $ 119,208 $...
At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by 27,311 31,601 33,587 44,782 101,53376,061 46,744 3,769 171 207,018 467,573 403,080 $335,900 78,356 55, 867 9,062 8,380 251,311231, 115,261 67,43945,226 mortgages on plant assets Conmon stock, $10 par value Retained earnings Total liabilities and equity 89,662 93,635 74,976 162,500 162,500 162,500 100,150 79,506 53,198 467,573 $ 403,080 $ 335,900 1. Compute the current...
Simon Company's year-end balance sheets follow. 2017 2016 2015 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 26,1225 30,846 $ 34,119 79,574 53,981 44,167 97,135 70,612 47,513 8,498 8,261 3,791 240,461 225, 274 205,010 $ 451,799 $ 389,474 $ 334,600 $ 114,746 $ 65,821 $...
201 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets 28,837 33,e54 34,087 83,579 183,845 9,196 57,844 45,899 47,924 74,166 8,419 249,876 235,597 3,7se 289,240 474,533 489,880 S 340,980 Liabilities and Equity Accounts payable Long-term notes payable secured by $118,159 $ 67,868 44,999 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 98,184 162,580 183,770 474 , 533 74,586 162,5e0162,5ee 58,815 489 ,880 348,980 93,148 86,37238 1. Compute the...
Simon Company's year-end balance sheets follow. Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-tern notes payable secured by s 31,614 36,954 $ 37,246 52,875 115,20385, 455 56,328 4,406 283,913261,113 231,945 $ 530, 521 457,346 $ 388,900 89,812 64,028 9,979 9, 196 s 136,063 18,064 52,361 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 98,741105, 190 8 666 162, 500 162, 500...
Simon Company's year-end balance sheets follow. 2017 2016 2015 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 28,539 $ 35,423 $ 35,115 86,127 59,584 47.289 106,144 79,53148,856 9,570 9,208 3,941 268, 299 246,150 219,499 $ 498,679 $ 429,896 $ 354,700 $ 125,413 $ 72,652 $ 46,820...
Simon Company's year-end balance sheets follow At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by 2017 2016 2015 $ 27,328 $ 32,931 $ 33,274 81,653 55,901 46,195 104,717 74,631 50,187 9,254 8,558 3,926 254,553 239,621 212,918 $477,505 $411,642 $346,500 $120,088 $ 71,655 $ 46,195 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 88,873 91,837 75,045...
er 13 Assignment。 Saved Simon Company's year-end balance sheets follow At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by 29,155 s 32,73e 34,197 85,337 59,639 46,395 198,347 76,468 5,404 3,751 256,846 244,259 213,343 489,260 421,776 348,eee 9,575 8,680 s 119,389 7e,567 $44,558 mortgages on plant assets 91,981 98,949 76,988 162,5e 162,588 162,see 64,834 489, 268 $ 421,776 348,eee ock, $1e par value...
At December 31 2017 2016 2015 Assets Cash $ 33,338 $ 40,138 $38,236 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 93,724 125,129 10,521 68,195 91,016 10,127 277,632 53,582 55,403 4,422 242,457 $565,045 $487,108 394,100 302,333 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings $140,696 $ 82,321 50,461 112,035 162,500 130,252 $565,045 $487,108 394,100 109,415 162,500 152,434 85,354 162,500 95,785 Total liabilities and...
Simon Company’s year-end balance sheets follow.
At December 31
2017
2016
2015
Assets
Cash
$
35,286
$
41,246
$
40,887
Accounts receivable, net
101,276
68,676
54,516
Merchandise inventory
124,839
95,381
58,060
Prepaid expenses
11,143
10,407
4,634
Plant assets, net
308,101
284,846
254,903
Total assets
$
580,645
$
500,556
$
413,000
Liabilities and
Equity
Accounts payable
$
143,135
$
86,286
$
55,606
Long-term notes payable secured
by
mortgages on plant assets
111,344
117,430
93,098
Common stock, $10 par value
162,500
162,500...
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