Question 10:AssetsCurrent AssetsCashPetty cashAccounts receivableInventoryTotal current assetsProperty and equipmentBuildingsLandEquipmentAccumulated depreciationTotal property and equipmentOther assetsTotal Assets20,0005,00035,00070,000150,00010,00080,000-20,000BUNNY BACKERS Inc.Balance sheet31-Dec-20XX130,000220,0008,000358,000LiabilitiesCurrent LiabilitiesAccounts payableWages payableInterests payableUnearned revenuesTotal current liabilitiesLong term liabilitiesNotes payableTotal LiabilitiesEquityCommon stockRetained earningsTotal stockholder's equityTotal liabilities and equity35,00025,00010,0008,000240,00080,00078,00060,000138,000220,000358,000 Bunny Backers Inc. Income Statement for the Year Ended 31st Dec. 20XX120,00040,00080,000RevenuesCost of goods soldGross profitOther incomeSelling costsAdministrative costsOther expensesProfit before taxTaxesNet Profit40,00020,00030,00010,00060,00021,00039,000Calculate appropriate ratios to make comment on the financial performance of the company?*The industry average current ratio is at 1:1 and quick ratio at 0.6:1.

Financial ratios show the relationship between two numerical values taken from a company’s financial…

Answered: Calculate appropriate ratios to make…

Calculate appropriate ratios to make comment on the financial performance of the company? *The industry average current ratio is at 1:1 and quick ratio at 0.6:1.

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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