Additional information: 2018current ratio: 1.4:1 debt to total assets: 61.1%Question: find working capital for 2018Additional information: 2017current ratio 1.5:1working capital: 214,500Question find debt to total assets for 2017 Current liabilitiesAccounts payableSalaries payableIncome tax payableTotal current liabilitiesMortgage payablTotal LiabilitiesShareholders' EquityCommon sharesRetained earningsTotal liabilities and shareholders' equity$314,38550,86556,578275,00041,136$812,000$306,00038,00073,795$511,795275,00065,705$852,500 Current assetsCashHeld for trading investmentsAccounts receivableInventoryPrepaid expensesTotal current assetsProperty, plant, and equipment (net)Total assetsLiabilitiesCurrent liabilitiesAccounts payable$70,00096,000138,000232,00079,000615,000197,000$812,000$314,385tA$$75,000133,500207,00046,000200,000767692$306,000

Lets understand the basics. Current ratio shows company's ability to pay its short term obligation…

Additional information: 2018 current ratio: 1.4:1 debt to total assets: 61.1% Question: find working capital for 2018 Additional information: 2017 current ratio 1.5:1 working capital: 214,500 Question find debt to total assets for 2017

Additional information: 2018 current ratio: 1.4:1 debt to total assets: 61.1% Question: find working capital for 2018 Additional information: 2017 current ratio 1.5:1 working capital: 214,500 Question find debt to total assets for 2017

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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