Question

Shown below are selected data from the balance sheet of Compros, a small electronics store (dollar...

Shown below are selected data from the balance sheet of Compros, a small electronics store (dollar amounts are in thousands):

Cash $ 75

Accounts receivable $ 135

Inventory $ 240

Total assets $ 900

Current liabilities $ 300

Noncurrent liabilities $ 375

What is the quick ratio?

What is the current ratio?

What is the amount of working capital?

What is the debt ratio?

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

A

Total Quick Assets

$210

B

Current Liabilities

$300

C = A/B

Quick Ratio

0.7

Answer [1]

A

Total Current Assets

$450

B

Current Liabilities

$300

C = A/B

Current Ratio

1.5

Answer [2]

A

Total Current Assets

$450

B

Current Liabilities

$300

C = A - B

Working Capital

$150

Answer [3]

A

Total Liabilities

$675

B

Total Assets

$900

C = A/B

Debt Ratio

0.75

Answer [4]

--Workings

A

Cash

$75

B

Accounts receivables

$135

C

Inventory

$240

D = A+B+C

Total Current Assets

$450

E = D - C

Total Quick Assets

$210

F

Current Liabilities

$300

G

Non Current Liabilities

$375

H = F+G

Total Liabilities

$675
0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Shown below are selected data from the balance sheet of Compros, a small electronics store (dollar...
Shown below are selected data from the balance sheet of Compros, a small electronics store (dollar amounts are in thousands): Cash $ 66 Accounts receivable $ 126 Inventory $ 195 Total assets $ 855 Current liabilities $ 210 Noncurrent liabilities $ 330 What is the quick ratio? Multiple Choice 0.93 to 1. 0.91 to 1. 1.84 to 1. 0.6 to 1. What is the current ratio? Multiple Choice 0.93 to 1. 0.6 to 1. 1.84 to 1. 0.91 to 1....
The following data were taken from the balance sheet of Nilo Company at the end of...
The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets:   Cash $303,600 $229,600   Marketable securities 351,600 258,300   Accounts and notes receivable (net) 143,800 86,100   Inventories 868,600 650,300   Prepaid expenses 447,400 415,700   Total current assets $2,115,000 $1,640,000 Current liabilities:   Accounts and notes payable   (short-term) $272,600 $287,000   Accrued liabilities 197,400 123,000   Total current liabilities $470,000 $410,000 a. Determine for each year (1) the working capital, (2)...
The following data were taken from the balance sheet of Nilo Company at the end of...
The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets:   Cash $330,600 $260,000   Marketable securities 382,800 292,500   Accounts and notes receivable (net) 156,600 97,500   Inventories 957,000 701,500   Prepaid expenses 493,000 448,500   Total current assets $2,320,000 $1,800,000 Current liabilities:   Accounts and notes payable   (short-term) $336,400 $350,000   Accrued liabilities 243,600 150,000   Total current liabilities $580,000 $500,000 a. Determine for each year (1) the working capital, (2)...
The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,490,000, with...
The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,490,000, with 75 percent of sales sold on credit. STUD CLOTHIERS Balance Sheet 20X1 Assets Liabilities and Equity Cash $ 38,000 Accounts payable $ 262,000 Accounts receivable 292,000 Accrued taxes 148,000 Inventory 248,000 Bonds payable (long-term) 178,000 Plant and equipment 500,000 Common stock 100,000 Paid-in capital 150,000 Retained earnings 240,000 Total assets $ 1,078,000 Total liabilities and equity $ 1,078,000 Compute the following ratios: (Use a...
Current Position Analysis The following data were taken from the balance sheet of Nilo Company at...
Current Position Analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets:   Cash $433,200 $353,600   Marketable securities 501,600 397,800   Accounts and notes receivable (net) 205,200 132,600   Inventories 831,600 539,200   Prepaid expenses 428,400 344,800   Total current assets $2,400,000 $1,768,000 Current liabilities:   Accounts and notes payable   (short-term) $348,000 $364,000   Accrued liabilities 252,000 156,000   Total current liabilities $600,000 $520,000 a. Determine for each year (1) the...
Presented below are summary financial data from Pompeo's annual report: Amounts in millions Balance Sheet Cash...
Presented below are summary financial data from Pompeo's annual report: Amounts in millions Balance Sheet Cash and Cash Equivalents $2,893 Marketable Securities 28,936 Accounts Receivable (net) 14,987 Total Current Assets 64,958 Total Assets 196,925 Current Liabilities 66,358 Long-Term Debt 11,646 Shareholders' Equity 109,245 Income Statement Interest Expense 896 Net Income Before Taxes 39,114 Calculate the following ratios: (Round to 2 decimal points) a. Times-interest-earned ratio Answer b. Quick ratio Answer c. Current ratio Answer
The balance sheet and income statement shown below are for Big D Café: Balance Sheet (millions...
The balance sheet and income statement shown below are for Big D Café: Balance Sheet (millions of $) Assets Cash and securities                                                          2,500 Accounts receivable                                                        11,500 Inventories                                                                        16,000 Total current assets                                                        30,000 Net plant and equipment                                             20,000 Total assets 50,000 Liabilities and Equity Accounts payable                                                             9,500 Notes payable                                                                   7,000 Accruals                                                                               5,500 Total current liabilities                                                    22,000 Long-term debt                                                                15,000 Total liabilities                                                                   37,000 Common stock                                                                  2,000 Retained earnings                                                            11,000 Total common equity                                                     13,000 Total liabilities and equity                                            50,000 Income Statement (millions of $) Sales                                                                                      87,500 Operating costs except...
Current Position Analysis The following data were taken from the balance sheet of Nilo Company at...
Current Position Analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets:   Cash $483,400 $386,400   Marketable securities 559,700 434,700   Accounts and notes receivable (net) 228,900 144,900   Inventories 664,600 477,000   Prepaid expenses 342,400 305,000   Total current assets $2,279,000 $1,748,000 Current liabilities:   Accounts and notes payable   (short-term) $307,400 $322,000   Accrued liabilities 222,600 138,000   Total current liabilities $530,000 $460,000 a. Determine for each year (1) the...
Current Position Analysis The following data were taken from the balance sheet of Nilo Company at...
Current Position Analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets:   Cash $446,900 $361,200   Marketable securities 517,400 406,400   Accounts and notes receivable (net) 211,700 135,400   Inventories 161,700 104,900   Prepaid expenses 83,300 67,100   Total current assets $1,421,000 $1,075,000 Current liabilities:   Accounts and notes payable   (short-term) $284,200 $301,000   Accrued liabilities 205,800 129,000   Total current liabilities $490,000 $430,000 a. Determine for each year (1) the...
Current Position Analysis The following data were taken from the balance sheet of Nilo Company at...
Current Position Analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets:   Cash $335,200 $275,200   Marketable securities 388,100 309,600   Accounts and notes receivable (net) 158,700 103,200   Inventories 776,200 498,400   Prepaid expenses 399,800 318,600   Total current assets $2,058,000 $1,505,000 Current liabilities:   Accounts and notes payable   (short-term) $284,200 $301,000   Accrued liabilities 205,800 129,000   Total current liabilities $490,000 $430,000 a. Determine for each year (1) the...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT