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:
Homework Answers
| Answer |
| Quick ratio=(Current assets-inventory-prepaid expenses)/Current liabilities |
| (400-170-40)/320 |
| 190/320 |
| which is equal to |
| 0.59(Approx). |
| Quick ratio=0.59(Approx). |
Add Answer to:
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:...
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
$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:
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
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:
Data from Dunshee Corporation's most recent balance sheet appear below: Year 2 Year 1 Current assets:...
Data from Dunshee Corporation's most recent balance sheet appear below: Year 2 Year 1 Current assets: Cash Accounts receivable, net Inventory Prepaid expenses $148 306 144 28 $626 $302 $118 326 164 28 $636 $310 Total current assets Total current liabilities Sales on account in Year 2 amounted to $1,620 and the cost of goods sold was $1,000 The current ratio at the end of Year 2 is closest to Multiple Choice 0.74 2.07 1.12 0.76
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 Current assets: Cash Accounts receivable, net Inventory Prepaid expenses $ 200 320 290 20 830 1,060 $1,890 $ 290 340 260 20 910 1,140 $2,050 Total current assets Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: $ 260 50 40 350 250 600 $ 290 50 40...
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 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 $ 168 $ 100 Accounts receivable, net 198 198 Inventory 148 138 Prepaid expenses 98 98 Total current assets $ 612 $ 534 Current liabilities: Accounts payable $ 208 $ 188 Accrued liabilities 38 38 Notes payable, short term 98 88 Total current liabilities $ 344 $ 314 Sales on account during the year totaled $1,240 thousand. Cost of...
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 $ 194 $ 100 Accounts receivable, net 224 224 Inventory 174 164 Prepaid expenses 124 124 Total current assets $ 716 $ 612 Current liabilities: Accounts payable $ 234 $ 214 Accrued liabilities 64 64 Notes payable, short term 124 114 Total current liabilities $ 422 $ 392 Sales on account during the year totaled $1,370 thousand. Cost of...
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
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
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:
Data from Dunshee Corporation's most recent balance sheet appear below: Year 2 Year 1 Current assets: Cash Accounts receivable, net Inventory Prepaid expenses $148 306 144 28 $626 $302 $118 326 164 28 $636 $310 Total current assets Total current liabilities Sales on account in Year 2 amounted to $1,620 and the cost of goods sold was $1,000 The current ratio at the end of Year 2 is closest to Multiple Choice 0.74 2.07 1.12 0.76
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 Current assets: Cash Accounts receivable, net Inventory Prepaid expenses $ 200 320 290 20 830 1,060 $1,890 $ 290 340 260 20 910 1,140 $2,050 Total current assets Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: $ 260 50 40 350 250 600 $ 290 50 40...
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
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