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Bethesda Mining Company reports the following balance sheet information for 2021 and 2022: Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets BETHESDA MINING COMPANY Balance Sheets as of December 31, 2021 and 2022 2022 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total Total liabilities and owners' equity 2021 $ 50,434 62,281 123,735 $ 236,450 $ 658,147 $ 894,597 $ 63,944 82,639 189,433 $ 336,016 $ 589,678 $ 925,694 Based on the balance sheets given, calculate the following financial ratios for each year: Calculate the following financial ratios for each year: a. Current ratio. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. b. Quick ratio. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. c. Cash ratio. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. 2021 $ 189,922 85,020 $ 274,942 $ 237,000 $ 218,000 164, 655 $ 382,655 $ 894,597 2022 $ 197,611 136,588 $ 334,199 $ 173,750 $ 218,000 199,745 $ 417,745 $ 925,694

Bethesda Mining Company reports the following balance sheet information for 2021 and 2022: Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets BETHESDA MINING COMPANY Balance Sheets as of December 31, 2021 and 2022 2022 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total Total liabilities and owners' equity 2021 $ 50,434 62,281 123,735 $ 236,450 $ 658,147 $ 894,597 $ 63,944 82,639 189,433 $ 336,016 $ 589,678 $ 925,694 Based on the balance sheets given, calculate the following financial ratios for each year: Calculate the following financial ratios for each year: a. Current ratio. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. b. Quick ratio. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. c. Cash ratio. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. 2021 $ 189,922 85,020 $ 274,942 $ 237,000 $ 218,000 164, 655 $ 382,655 $ 894,597 2022 $ 197,611 136,588 $ 334,199 $ 173,750 $ 218,000 199,745 $ 417,745 $ 925,694

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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Bethesda Mining Company reports the following balance sheet information for 2021 and 2022: Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets 2021 BETHESDA MINING COMPANY Balance Sheets as of December 31, 2021 and 2022 2022 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable a. 2021 Current ratio 2022 Current ratio b. 2021 Quick ratio 2022 Quick ratio c. 2021 Cash ratio 2022 Cash ratio d. 2021 Debt-equity ratio 2021 Equity multiplier $ 50,434 62,281 123,735 $ 236,450 2022 Debt-equity ratio 2022 Equity multiplier e. 2021 Total debt ratio 2022 Total debt ratio $ 658,147 $ 894,597 $ 63,944 82,639 189, 433 $ 336,016 $589,678 $ 925,694 Based on the balance sheets given, calculate the following financial ratios for each year: Calculate the following financial ratios for each year: Total Long-term debt Owners' equity Common stock and paid-in surplus a. Current ratio. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. b. Quick ratio. times times times times times times times times times times times times Accumulated retained earnings Total Total liabilities and owners' equity Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. c. Cash ratio. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. d. Debt-equity ratio and equity multiplier. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. e. Total debt ratio. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. 2021 $ 189,922 85,020 $ 274,942 $ 237,000 $ 218,000 164, 655 $ 382,655 $ 894,597 2022 $ 197,611 136,588 $ 334,199 $ 173,750 $ 218,000 199,745 $ 417,745 $ 925,694
Transcribed Image Text:Bethesda Mining Company reports the following balance sheet information for 2021 and 2022: Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets 2021 BETHESDA MINING COMPANY Balance Sheets as of December 31, 2021 and 2022 2022 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable a. 2021 Current ratio 2022 Current ratio b. 2021 Quick ratio 2022 Quick ratio c. 2021 Cash ratio 2022 Cash ratio d. 2021 Debt-equity ratio 2021 Equity multiplier $ 50,434 62,281 123,735 $ 236,450 2022 Debt-equity ratio 2022 Equity multiplier e. 2021 Total debt ratio 2022 Total debt ratio $ 658,147 $ 894,597 $ 63,944 82,639 189, 433 $ 336,016 $589,678 $ 925,694 Based on the balance sheets given, calculate the following financial ratios for each year: Calculate the following financial ratios for each year: Total Long-term debt Owners' equity Common stock and paid-in surplus a. Current ratio. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. b. Quick ratio. times times times times times times times times times times times times Accumulated retained earnings Total Total liabilities and owners' equity Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. c. Cash ratio. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. d. Debt-equity ratio and equity multiplier. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. e. Total debt ratio. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. 2021 $ 189,922 85,020 $ 274,942 $ 237,000 $ 218,000 164, 655 $ 382,655 $ 894,597 2022 $ 197,611 136,588 $ 334,199 $ 173,750 $ 218,000 199,745 $ 417,745 $ 925,694
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