Spartan Sportswear's current assets consist of cash, marketable
securities, accounts receivable, and inventories. The following
data...
Spartan Sportswear's current assets consist of cash, marketable
securities, accounts receivable, and inventories. The following
data were abstracted from a recent financial statement: Inventories
$ 180,000
Total assets $ 840,000
Current ratio 3.50
Acid-test ratio 2.00
Debt to equity ratio 1.80
Required:
Compute the long-term liabilities for Spartan:
Bronco Electronics' current assets consist of cash, marketable
securities, accounts receivable, and inventories. The following
data...
Bronco Electronics' current assets consist of cash, marketable
securities, accounts receivable, and inventories. The following
data were abstracted from a recent financial statement:
Inventories
$
170,000
Total
assets
$
1,850,000
Current
ratio
4.2
Acid-test
ratio
3.20
Debt to equity
ratio
1.5
Required:
Compute the long-term liabilities for Bronco:
Information from Gre Company's balance sheet follows
Current Assets
Cash
$2,100,000
Marketable Securities
7,200,000...
Information from Gre Company's balance sheet follows
Current Assets
Cash
$2,100,000
Marketable Securities
7,200,000
Accounts Receivable
50,500,000
Inventories
65,000,000
Prepaid expenses
1,000,000
Total current assets
$125,800,000
Current Liabilities
Notes payable
$1,400,000
Accounts payable
18,000,000
Accrued expenses
11,000,000
Income taxes payable
600,000
Current portion of long-term debt
3,000,000
Total current liabilities
$34,000,000
What is the acid-test ratio for Greg Company?
Select one:
a. 1.60
b. 1.76
c. 2.20
d....
The current asset section of the Excalibur Tire Company’s
balance sheet consists of cash, marketable securities,...
The current asset section of the Excalibur Tire Company’s
balance sheet consists of cash, marketable securities, accounts
receivable, and inventories. The December 31, 2021, balance sheet
revealed the following: Inventories $ 750,000 Total assets $
2,800,000 Current ratio 2.3 Acid-test ratio 1.05 What amount should
be included in the noncurrent asset section of Excalibur Tire’s
December 31, 2021, balance sheet?
The current asset section of the Excalibur Tire Company’s
balance sheet consists of cash, marketable securities,...
The current asset section of the Excalibur Tire Company’s
balance sheet consists of cash, marketable securities, accounts
receivable, and inventory. The December 31, 2021, balance sheet
revealed the following:
Inventory
$
890,000
Total assets
$
3,500,000
Current ratio
2.40
Acid-test ratio
1.40
Debt to equity ratio
1.5
Required:
Determine the following 2021 balance sheet items:
1. Current Assets
2. Shareholder's Equity
3. Long-term assets
4. Long-term liabilities
Current Position Analysis
The following items are reported on a company's balance
sheet:
Cash
$334,100
Marketable...
Current Position Analysis
The following items are reported on a company's balance
sheet:
Cash
$334,100
Marketable securities
261,000
Accounts receivable (net)
312,900
Inventory
136,200
Accounts payable
454,000
Determine (a) the current ratio and (b) the quick ratio. Round
to one decimal place.
a. Current ratio
b. Quick ratio
Accounts Receivable Analysis
A company reports the following:
Sales
$1,931,580
Average accounts receivable (net)
71,540
Determine (a) the accounts receivable turnover and (b) the
number of days' sales in receivables. Round interim...
Current Position Analysis
The following items are reported on a company's balance
sheet:
Cash
$201,800
Marketable...
Current Position Analysis
The following items are reported on a company's balance
sheet:
Cash
$201,800
Marketable securities
157,700
Accounts receivable (net)
85,700
Inventory
185,500
Accounts payable
371,000
Determine (a) the current ratio and (b) the quick ratio. Round
to one decimal place.
a. Current ratio
b. Quick ratio
The following
table shows Toshiba's financial statements
Assets:
Amount
Cash and marketable securities
$400,000
Accounts...
The following
table shows Toshiba's financial statements
Assets:
Amount
Cash and marketable securities
$400,000
Accounts receivable
1,415,000
Inventories
1,847,500
Prepaid expenses
24,000
Total current assets
3,686,500
Fixed assets
2,800,000
Less: accum. depr.
(1,087,500)
Net fixed assets
1,712,500
Total assets
$5,399,000
Liabilities:
Accounts payable
$600,000
Notes payable
875,000
Accrued taxes
92,000
Total current liabilities
$1,567,000
Long-term debt
900,000
Common Stock (100,000 shares)
700,000
Retained Earnings
2,232,000
Total liabilities and owner's equity
$5,399,000
Net sales (all credit)
$6,375,000
Less: Cost of...
A)The following items are reported on a
company’s balance sheet:
Cash $400,000 Marketable securities 50,000
Accounts...
A)The following items are reported on a
company’s balance sheet:
Cash $400,000 Marketable securities 50,000
Accounts receivable 150,000
Inventory 200,000
Accounts payable 250,000
Determine the (a) current ratio, and (b) quick ratio. Round your
answers to one decimal place.
a. Current ratio:
b. Quick ratio :
B) A company reports the following:
Income before income tax: $341,880
Interest expense: 77,700
Determine the number of times interest charges are earned. Round
your answer to one decimal place.
C) A company reports...