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Bethesda Mining Company reports the following balance sheet information for 2021 and 2022: BETHESDA MINING COMPANY Balance Sheets as of December 31, 2021 and 2022 Liabilities and Owners' 2021 2022 Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets $ 40,010 $ 51,181 60, 281 80,639 128,441 194, 689 $ 228,732 $ 326,509 $ 657,747 $ 589,478 $886,479 $915,987 Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total 2021 $191,922 $ 199,611 87,020 138,588 $ 278,942 $ 338, 199 $ 241,000 $177,750 2022 $ 214,000 $ 214,000 152,537 186,038 $366,537 $ 400,038 $ 886,479 $ 915,987 Total liabilities and owners' equity 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. 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.

Bethesda Mining Company reports the following balance sheet information for 2021 and 2022: BETHESDA MINING COMPANY Balance Sheets as of December 31, 2021 and 2022 Liabilities and Owners' 2021 2022 Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets $ 40,010 $ 51,181 60, 281 80,639 128,441 194, 689 $ 228,732 $ 326,509 $ 657,747 $ 589,478 $886,479 $915,987 Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total 2021 $191,922 $ 199,611 87,020 138,588 $ 278,942 $ 338, 199 $ 241,000 $177,750 2022 $ 214,000 $ 214,000 152,537 186,038 $366,537 $ 400,038 $ 886,479 $ 915,987 Total liabilities and owners' equity 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. 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.

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter12: Intangibles
Section: Chapter Questions
Problem 10MC
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Bethesda Mining Company reports the following balance sheet information for 2021 and 2022: BETHESDA MINING COMPANY Balance Sheets as of December 31, 2021 and 2022 Liabilities and Owners' 2021 2022 Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Total liabilities and owners' equity Based on the balance sheets given, calculate the following financial ratios for each year: Calculate the following financial ratios for each year: 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 2022 Debt-equity ratio $ 40,010 $ 51,181 60, 281 80,639 128,441 194, 689 $ 228,732 $ 326,509 a. Current ratio. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. b. Quick ratio. 2022 Equity $ 657,747 $ 589,478 $886,479 $ 915,987 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. multiplier e. 2021 Total debt ratio 2022 Total debt Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total times times times times times times times times times times times 2021 $191,922 $ 199,611 87,020 138,588 2022 $278,942 $ 338, 199 $241,000 $177,750 $ 214,000 $ 214,000 152,537 186,038 $366,537 $400,038 $ 886,479 $ 915,987
Transcribed Image Text:Bethesda Mining Company reports the following balance sheet information for 2021 and 2022: BETHESDA MINING COMPANY Balance Sheets as of December 31, 2021 and 2022 Liabilities and Owners' 2021 2022 Assets Current assets Cash Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Total liabilities and owners' equity Based on the balance sheets given, calculate the following financial ratios for each year: Calculate the following financial ratios for each year: 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 2022 Debt-equity ratio $ 40,010 $ 51,181 60, 281 80,639 128,441 194, 689 $ 228,732 $ 326,509 a. Current ratio. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. b. Quick ratio. 2022 Equity $ 657,747 $ 589,478 $886,479 $ 915,987 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. multiplier e. 2021 Total debt ratio 2022 Total debt Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total times times times times times times times times times times times 2021 $191,922 $ 199,611 87,020 138,588 2022 $278,942 $ 338, 199 $241,000 $177,750 $ 214,000 $ 214,000 152,537 186,038 $366,537 $400,038 $ 886,479 $ 915,987
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