Accounts Payable
$76,000
Salaries Payable
$7,000
Mortgages Payable (long-term)
77,000
Bonds Payable (current portion)
28,000
Interest...
Accounts Payable
$76,000
Salaries Payable
$7,000
Mortgages Payable (long-term)
77,000
Bonds Payable (current portion)
28,000
Interest Payable
15,000
Premium on Bonds Payable
12,000
Bonds Payable (long-term)
65,000
Unearned Revenue (short-term)
3,100
Total Stockholders' Equity
180,000
Requirements:
1.
Report
these liabilities on the
Route MakerRoute Maker
Wireless balance? sheet, including headings and totals for
current liabilities and? long-term liabilities.
Compute
Route MakerRoute
Maker
?Wireless's debt to
equity ratio at December? 31,
20182018.
requirement 2
Based on the following data, what is the Current Ratio?
Accounts payable........................
$ 78,000
Accounts receivable......................
Based on the following data, what is the Current Ratio?
Accounts payable........................
$ 78,000
Accounts receivable...................
158,000
Payroll tax payable.....................
15,000
Cash...........................................
49,000
Inventory.....................................
148,000
Goodwill......................................
160,000
Short Term Investments................
108,000
Notes payable (short-term)..........
65,000
Property, plant, and equipment.....
1,800,000
Prepaid Expenses.......................
15,000
a.
320,000
b.
2.68
c.
3.13
d.
1.99
e.
3.03
Gorsline Company presents the following data, in millions, for
Year 2.
Inventories, beginning of year
$ 5,209
Inventories, end...
Using the following year-end information for Calvin’s Clothing,
calculate the current ratio and acid-test ratio for...
Using the following year-end information for Calvin’s Clothing,
calculate the current ratio and acid-test ratio for the
business:
Cash
$
59,140
Short-term investments
15,000
Accounts receivable
60,000
Inventory
290,000
Prepaid expenses
6,520
Accounts payable
109,000
Other current payables
32,200
Using the following year-end information for Calvin’s Clothing,
calculate the current ratio and acid-test ratio for...
Using the following year-end information for Calvin’s Clothing,
calculate the current ratio and acid-test ratio for the
business:
Cash
$
55,320
Short-term investments
12,500
Accounts receivable
55,000
Inventory
240,000
Prepaid expenses
9,780
Accounts payable
106,500
Other current payables
31,500
Using the following year-end information for Calvin’s Clothing,
calculate the current ratio and acid-test ratio for...
Using the following year-end information for Calvin’s Clothing,
calculate the current ratio and acid-test ratio for the
business:
Cash
$ 60,840
Short-term investments
16,500
Accounts receivable
63,000
Inventory
320,000
Prepaid expenses
12,220
Accounts payable
110,500
Other current payables
32,700
Balance sheet
December 31
Assets 2007 2006
Cash $25,000 $40,000
Short term investments 15,000 60,000
Accounts...
Balance sheet
December 31
Assets 2007 2006
Cash $25,000 $40,000
Short term investments 15,000 60,000
Accounts receivable 50,000 30,000
Inventory 50,000 70,000
Property, plant and equipment (net) 160,000 200,000
Total assets $300,000 $400,000
Liabilities and stockholders equity
Accounts payable $20,000 $30,000
Short term notes payable 40,000 90,000
Bonds payable 80,000 160,000
Common stock 60,000 45,000
Retained earnings 100,000 75,000
Total liabilities and stockholders equity $300,000 $400,000
Income statement (for the year ended December 31, 2007)
Net sales $360,000
Cost...
The following data are taken from the balance sheet at the end
of the current year....
The following data are taken from the balance sheet at the end
of the current year. Determine the (a) working
capital, (b) current ratio, and (c)
quick/acid-test ratio. Present figures used in
your computations. Round ratios to the nearest tenth.
Accounts payable
$145,000
Accounts receivable
110,000
Accrued liabilities
4,000
Cash
80,000
Income tax payable
10,000
Inventory
140,000
Marketable securities
250,000
Notes payable, short-term
85,000
Prepaid expenses
15,000
Working Capital and Short-Term Firm Liquidity Ratios
Favor Company has a current ratio of 2.08 (2.08:1)...
Working Capital and Short-Term Firm Liquidity Ratios
Favor Company has a current ratio of 2.08 (2.08:1) on December 31.
On that date its current assets are as follows:
Cash and cash equivalents
$28,000
Short-term investments
87,000
Accounts receivable (net)
125,000
Inventory
258,500
Prepaid expenses
9,980
Current assets
$508,480
Favor Company's current liabilities at the beginning of the year
were $192,000 and during the year its operating activities provided
a cash flow of $38,830.
a. What are the firm's current liabilities...
Based on the following data, what is the Current Ratio?
Accounts payable........................
$ 78,000
Accounts receivable......................
Based on the following data, what is the Current Ratio?
Accounts payable........................
$ 78,000
Accounts receivable...................
158,000
Payroll tax payable.....................
15,000
Cash...........................................
49,000
Inventory.....................................
148,000
Goodwill......................................
160,000
Short Term Investments................
108,000
Notes payable (short-term)..........
65,000
Property, plant, and equipment.....
1,800,000
Prepaid Expenses.......................
15,000
a.
1.99
b.
320,000
c.
2.68
d.
3.13
e.
3.03