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A company has cash of $398, accounts receivable of $457, accounts payable of $218, and inventory of $647. The value of the quick ratio is times

A company has cash of $398, accounts receivable of $457, accounts payable of $218, and inventory of $647. The value of the quick ratio is times

FINANCIAL ACCOUNTING
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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XYM has interest expense of $168, total revenues of $38,000, costs of goods sold $18,000, administration and selling expenses of $306, depreciation of $320, and taxes of $1,979. The beginning balance sheet has total assets of $48,354, net fixed assets of $31,202, current liabilities of $14,207, and total liabilities of $29,407. The ending balance sheet shows total assets of $49,305, net fixed assets of $33,000, current liabilities of $17,318, and total liabilities of $30,404. What is the net capital spending? Answer:
Transcribed Image Text:XYM has interest expense of $168, total revenues of $38,000, costs of goods sold $18,000, administration and selling expenses of $306, depreciation of $320, and taxes of $1,979. The beginning balance sheet has total assets of $48,354, net fixed assets of $31,202, current liabilities of $14,207, and total liabilities of $29,407. The ending balance sheet shows total assets of $49,305, net fixed assets of $33,000, current liabilities of $17,318, and total liabilities of $30,404. What is the net capital spending? Answer:
A company has cash of $398, accounts receivable of $457, accounts payable of $218, and inventory of $647. The value of the quick ratio is times
Transcribed Image Text:A company has cash of $398, accounts receivable of $457, accounts payable of $218, and inventory of $647. The value of the quick ratio is times
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