What is the 1) Current Ratio? 2) Acid test? 3) total debt to assets? Balance SheetsFor the Years Ended December 31, 2021 and 202020212020AssetsCurrent Assets:CashAccounts receivableInventoryPrepaid rentLong-Term Assets:Investment in bondsLandEquipmentLess: Accumulated depreciationTotal Assets$103,50046,80044,5507,200$70,40032,00071,2003,60054,900117,450106,200141,600102,000(20,800)$450,000 $400,000(30,600)a) Current RatioLiabilities and Stockholders' EquityCurrent Liabilities:Accounts payableInterest payableIncome tax payableLong-Term Liabilities:Notes payableStockholders' Equity:Common stockRetained earningsTotal Liabilities and Stockholders' E $450,000 $400,000b) Acid Test$30,1507,200| 12,150$46,8003,60010,000c) Total Debt to Assets138,150127,600144,000118,350144,00068,000ticalHorizontalRatios

Name: What is the 1) Current Ratio? 2) Acid test? 3) total debt to assets? B
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Description: What is the 1) Current Ratio? 2) Acid test? 3) total debt to assets? Balance SheetsFor the Years Ended December 31, 2021 and 202020212020AssetsCurrent Assets:CashAccounts receivableInventoryPrepaid rentLong-Term Assets:Investment in bondsLandEquipmen

The ratio analysis to provide the analysis of financial statements of the business.

Business

Accounting

Balance Sheets For the Years Ended December 31, 2021 and 2020 2021 2020 Assets Current Assets: Cash $103,500 46,800 $70,400 32,000 Accounts receivable Inventory Prepaid rent Long-Term Assets: Investment in bonds 44,550 71,200 7,200 3,600 54,900 117,450 106,200 Land 141,600 Equipment Less: Accumulated depreciation 102,000 (30,600) (20,800) a) Current Ratio Total Assets $450,000 $400,000 Liabilities and Stockholders' Equity Current Liabilities: Accounts payable Interest payable Income tax payable Long-Term Liabilities: Notes payable Stockholders' Equity: b) Acid Test $30,150 7,200 12,150 $46,800 3,600 10,000 c) Total Debt to Assets 138,150 127,600 Common stock Retained earnings Total Liabilities and Stockholders' E $450,000 144,000 118,350 144,000 68,000 $400,000

Balance Sheets For the Years Ended December 31, 2021 and 2020 2021 2020 Assets Current Assets: Cash $103,500 46,800 $70,400 32,000 Accounts receivable Inventory Prepaid rent Long-Term Assets: Investment in bonds 44,550 71,200 7,200 3,600 54,900 117,450 106,200 Land 141,600 Equipment Less: Accumulated depreciation 102,000 (30,600) (20,800) a) Current Ratio Total Assets $450,000 $400,000 Liabilities and Stockholders' Equity Current Liabilities: Accounts payable Interest payable Income tax payable Long-Term Liabilities: Notes payable Stockholders' Equity: b) Acid Test $30,150 7,200 12,150 $46,800 3,600 10,000 c) Total Debt to Assets 138,150 127,600 Common stock Retained earnings Total Liabilities and Stockholders' E $450,000 144,000 118,350 144,000 68,000 $400,000

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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