16) Given: The financial data below for Tech Engineering in 2016.CategoryDollarAmountCash$800,0001,000,000Accounts receivableInventoriesIntangiblesAccounts payableAccrued Expenses600,000100,000650,000180,000a) Determine the working capital for the company.b) Compute the current ratio from the financial data provided.c) What is the acid-test ratio for the company in 2016?

Financial statements: These refer to the formal or official records of the activities of the…

16) Given: The financial data below for Tech Engineering in 2016. Category Dollar Amount Cash $800,000 1,000,000 600,000 100,000 650,000 180,000 Accounts receivable Inventories Intangibles Accounts payable Accrued Expenses a) Determine the working capital for the company. b) Compute the current ratio from the financial data provided. c) What is the acid-test ratio for the company in 2016?

16) Given: The financial data below for Tech Engineering in 2016. Category Dollar Amount Cash $800,000 1,000,000 600,000 100,000 650,000 180,000 Accounts receivable Inventories Intangibles Accounts payable Accrued Expenses a) Determine the working capital for the company. b) Compute the current ratio from the financial data provided. c) What is the acid-test ratio for the company in 2016?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

16) Given: The financial data below for Tech Engineering in 2016.
Category
Dollar
Amount
Cash
$800,000
1,000,000
Accounts receivable
Inventories
Intangibles
Accounts payable
Accrued Expenses
600,000
100,000
650,000
180,000
a) Determine the working capital for the company.
b) Compute the current ratio from the financial data provided.
c) What is the acid-test ratio for the company in 2016?

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