Assume that the current ratio for Arch Company is 3.5, its acid-test ratio is 1.5, and its working capital is $370,000. Required: a. How much does the firm have in current liabilities? b. If the only current assets shown on the balance sheet for Arch Company are Cash, Accounts Receivable, and Merchandise Inventory, how much does the firm have in Merchandise Inventory?
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- Assume that the current ratio for Arch Company is 2.5, its acid-test ratio is 1.5, and its working capital is $320,000. Answer each of the following questions independently, always referring to the original information. Required: a. How much does the firm have in current liabilities? (Do not round intermediate calculations.) b. If the only current assets shown on the balance sheet for Arch Company are Cash, Accounts Receivable, and Merchandise Inventory, how much does the firm have in Merchandise Inventory? (Do not round intermediate calculations.) c. If the firm collects an account receivable of $105,000, what will its new current ratio and working capital be? (Round "Current ratio" to 1 decimal place.) d. If the firm pays an account payable of $56,000, what will its new current ratio and working capital be? (Do not round intermediate calculations. Round "Current ratio" to 1 decimal place.) e. If the firm sells inventory that was purchased for $50,000 at a cash price of $61,000, what…Assume that the current ratio for Arch Company is 3.5, its acid-test ratio is 1.5, and its working capital is $330,000. Answer each of the following questions independently, always referring to the original information. Required: a. How much does the firm have in current liabilities? Note: Do not round intermediate calculations. b. If the only current assets shown on the balance sheet for Arch Company are Cash, Accounts Receivable, and Merchandise Inventory, how much does the firm have in Merchandise Inventory? Note: Do not round intermediate calculations. c. If the firm collects an account receivable of $101,000, what will its new current ratio and working capital be? Note: Round "Current ratio" to 1 decimal place. d. If the firm pays an account payable of $53,000, what will its new current ratio and working capital be? Note: Do not round intermediate calculations. Round "Current ratio" to 1 decimal place. e. If the firm sells inventory that was purchased for $50,000 at a cash price…Assume that the current ratio for Arch Company is 3.5, its acid-test ratio is 2.0, and its working capital is $360,000. Answer each of the following questions independently, always referring to the original information. Required: How much does the firm have in current liabilities? Note: Do not round intermediate calculations. If the only current assets shown on the balance sheet for Arch Company are Cash, Accounts Receivable, and Merchandise Inventory, how much does the firm have in Merchandise Inventory? Note: Do not round intermediate calculations. If the firm collects an account receivable of $119,000, what will its new current ratio and working capital be?
- Which of the following is included in the numerator of the Acid-Test Ratio calculation (check all that apply) A. Supplies B. Net Current Receivables C. Short-Term Investments D. Merchandise Inventory Which of the following ratios helps measure a company's ability to pay its current liabilities? (check all that apply) A. Accounts Receivable Turnover B. Days' Sales in Inventory C. Acid Test Ratio D. Cash Ratiohow to doWe are given the following information for Pettit Corporation. Sales (credit) Cash Inventory Current liabilities. Asset turnover Current ratio Debt-to-assets ratio Receivables turnover $4,344,000 229,000 873,000 773,000 a. Accounts receivable b. Marketable securities c. Capital assets d. Long-term debt $ $ Current assets are composed of cash, marketable securities, accounts receivable, and inventory. Calculate the following balance sheet items: ta ta ta 1.45 times 2.80 times $ $ 50 % 8 times
- Please give me answer general accountingWhat is total net sales for this company? What is total gross profit for this company? What is total operating expenses for this company? What is net income for this company? What is the company's gross profit ratio, also called gross profit margin ratio? Just enter the digits without decimals or punctuation.Refer to the following selected financial information from WorkFit Corporation. Compute the company's acid-test ratio. Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Current liabilities Multiple Choice O O O 2.76. 0.91. 1.10. 2.67. 1.63. $ 42,250 59,180 79,500 115,000 9,700 111,000
- Find the following using the data bellow a. Accounts receivable B. Current assets C. Total assets D. Return on assets E. Common equity F. Quick ratioWhat's the total asset turnover ratio of this company? Assets: Cash and marketable securities Accounts receivable Inventories Prepaid expenses Total current assets Fixed assets Less: accum. depr. Net fixed assets Total assets Liabilities: Accounts payable Notes payable Accrued taxes Total current liabilities Long-term debt Owner's equity (1 million shares of common stock outstanding) Total liabilities and owner's equity Net sales (all credit) Less: Cost of goods sold Selling and administrative expense Depreciation expense Interest expense Earnings before taxes Income taxes Net income 1.41 2.33 O 4.45 1.11 8,000,000 (2,075,000) $600,000 900,000 1,500,000 75,000 $3,075,000 $5,925.000 $9,000,000 $800,000 700,000 50,000 $1,550,000 2,500,000 4,950,000 $9,000,000 $10,000,000 (3,000,000) (2,000,000) (250,000) (200,000) 4,550,000 (1,820,000) $2,730,000How long is it's operating cycle of this financial accounting question?