On June 30, 2018,
Jordan Company’s total current assets were $503,500 and its total
current liabilities...
On June 30, 2018,
Jordan Company’s total current assets were $503,500 and its total
current liabilities were $273,000. On July 1, 2018, Jordan issued a
short-term note to a bank for $40,600 cash.
Required
Compute Jordan’s
working capital before and after issuing the note.
Compute Jordan’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
Exercise 9-7 Working capital and current ratio LO 9-2
On June 30, 2018, Adams Company’s total...
Exercise 9-7 Working capital and current ratio LO 9-2
On June 30, 2018, Adams Company’s total current assets were
$497,000 and its total current liabilities were $279,000. On July
1, 2018, Adams issued a long-term note to a bank for
$39,600 cash.
Required
Compute Adams’s working capital before and after issuing the
note.
Compute Adams’s current ratio before and after issuing the note.
(Round your answers to 1 decimal place.)
Thornton Industries began construction of a warehouse on July 1,
2018. The project was completed on...
Thornton Industries began construction of a warehouse on July 1,
2018. The project was completed on March 31, 2019. No new loans
were required to fund construction. Thornton does have the
following two interest-bearing liabilities that were outstanding
throughout the construction period: $4,000,000, 9% note $6,000,000,
6% bonds Construction expenditures incurred were as follows: July
1, 2018 $ 430,000 September 30, 2018 630,000 November 30, 2018
630,000 January 30, 2019 570,000 The company’s fiscal year-end is
December 31. Required: Calculate...
A Byte
of Accounting, Inc.
d
Balance Sheet
As of June 30,
2018
Assets
Current...
A Byte
of Accounting, Inc.
d
Balance Sheet
As of June 30,
2018
Assets
Current
Assets
1110
Cash
1120
Accounts Receivable
1130
Prepaid Insurance
1140
Prepaid Rent
1150
Office Supplies
Total
Long-Term
Assets
1211
Office Equip.
1212
Accum. Depr.-Office
Equip.
1311
Computer Equip.
1312
Accum. Depr.-Computer
Equip.
1411
Building Cost
1412
Accum. Depr.-Building
1510
Land
Total
Total Assets
Liabilities
Current
Liabilities
2101
Accounts Payable
2102
Advanced Payment
2103
Interest Payable
2105
Salaries Payable
2106
Income Taxes Payable
Total
Long-Term...
Effect of Transactions on Current Position Analysis
Data pertaining to the current position of Lucroy Industries...
Effect of Transactions on Current Position Analysis
Data pertaining to the current position of Lucroy Industries
Inc. are as follows:
Cash
$425,000
Marketable securities
182,500
Accounts and notes receivable (net)
345,000
Inventories
750,000
Prepaid expenses
48,000
Accounts payable
220,000
Notes payable (short-term)
230,000
Accrued expenses
300,000
Required:
1. Compute (a) the working capital, (b) the
current ratio, and (c) the quick ratio. Round ratios to one decimal
place.
a. Working capital
$
b. Current ratio
c. Quick ratio
2. Compute...
Instructions:
1. Compute (a) the working capital, (b) the
current ratio, and (c) the quick ratio....
Instructions:
1. Compute (a) the working capital, (b) the
current ratio, and (c) the quick ratio. Round the current ratio and
the quick ratio to one decimal place.
Working capital
$
Current ratio
$
Quick ratio
$
2. Compute the working capital, the current
ratio, and the quick ratio after each of the following
transactions, and record the results in the appropriate columns.
Consider each transaction separately and assume that only that
transaction affects the data given above. Format working...
ASSETS
2018
2017
LIABILITIES &n
ASSETS
2018
2017
LIABILITIES
2018
2017
Cash 2,400 900.00
Total Current Liabilities 28,000 13,200
Short Term Invest. 28,000 9,000
Long-term Liabilities 13,900 10,300
Accounts Receivable 7,500 5,200
Total Liabilities 41,900 23,500
Merchandise Inventory 6,900 8,600
Stockholders’ Equity
Other Current Assets 8,000 1,500
Common Stock 11,000 11,000
Total Current Assets 52,800 25,200
Retained Earnings 29,900 19,700
All Other Assets 30,000 29,000
Total Equity 40,900 30,700
Total Assets $82,800 $54,200
Total Liabilities and Equity 82,800 54,200
Different learning Objective MEASURING PROFITABILITY...
Thornton Industries began construction of a warehouse on July 1,
2018. The project was completed on...
Thornton Industries began construction of a warehouse on July 1,
2018. The project was completed on March 31, 2019. No new loans
were required to fund construction. Thornton does have the
following two interest-bearing liabilities that were outstanding
throughout the construction period:
$6,000,000, 8% note
$9,000,000, 3% bonds
Construction expenditures incurred were as follows:
July 1, 2018
$
580,000
September 30, 2018
870,000
November 30, 2018
870,000
January 30, 2019
810,000
The company’s fiscal year-end is December 31.
Required:
Calculate...
1. The following amounts were taken from a
company's balance sheet:
Total assets, $100,000
Total liabilities,...
1. The following amounts were taken from a
company's balance sheet:
Total assets, $100,000
Total liabilities, $20,000
Total stockholders' equity, $80,000
Current assets, $10,000
Current liabilities, $5,000
The company's working capital is
$5,000.
$80,000.
$10,000.
$20,000.
2. The following amounts were taken from a
company's balance sheet:
Total assets, $100,000
Total liabilities, $20,000
Total stockholders' equity, $80,000
Current assets, $10,000
Current liabilities, $5,000
The company's current ratio is
0.50.
5.0.
2.0.
None of these choices are correct.