Need help with this accounting questions Company XYZ has the following balances:⚫ Cash: $85⚫ Accounts Receivable: $165Inventory: $275⚫ Accounts Payable: $195⚫ Short-term debt: $45⚫ Long-term debt: $750What is the value of the quick ratio?

Step 1: Definition of Quick RatioThe quick ratio, also known as the acid-test ratio, measures a…

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Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter8: Current And Contingent Liabilities

Section: Chapter Questions

Problem 33CE: Liquidity Ratios NWAs financial statements contain the following information: Note: Round answers to...

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Hi! I am trying to do an acid-test ratio and a debt-to-equity ratio for the attached balance sheet. Can you help me? ** Values are in KEUR (kilo Euros)
Credit Card of America (CCA) has a current ratio of 3.5 and a quick ratio of 3.0. If its total current assets equal $73,500, what are CCA’s (a)current liabilities and (b)inventory?
Use the financial ratios of company A and company B to answer the questions below. Company A Company B Yr t+1 Year t Yr t+1 Year t Current ratio 0.55 0.59 0.56 0.55 Accounts receivable turnover 6.22 6.25 5.06 4.87 Debt to total assets 40.5% 40% 67.8% 65.9% Times interest earned 8.80 30.6 5.97 6.33 Free cash flows (in millions) ($3,819) $3,173 $168 $550 Return on stockholders’equity 7.7% 7.7% 26.6% 23.3% Return on assets 4.3% 4.3% 8.9% 7.9% Profit margin…
3. If net sales is P200,000 and the average accounts receivable is P50,000, what is the accounts receivable turnover ratio? * а. 4 b. 1/4 c. P150,000 d. P250,000 5. If total assets amounted to P800,000 and total liabilities amounted to P200,000, what is the debt to equity ratio? * а. 4 b. 0.3333 c. 0.25 d. 3 9. If the operating expenses of the company amounted to P50,000, gross sales amounted to P420,000 and sales discounts amounted to P20,000, how much is the operating expenses to sales ratio? * a. 0.125 b. 8 c. 0.119 d. 8.4
Compute the Quick ratio if Current Assets: 10.354; Current Liabilities: 6.615; Inventory: 5.767; Cash: 1.013.a) 0.69 timesb) 0.75 timesc) 0.72 timesd) 0.15 times
ACCOUNTING ASAP Assume the following data: EBIT = 100; Depreciation = 40; Interest = 20; Dividends = 10. Calculate the cash coverage ratio. Select one: a. 7.0x b. 4.7x c. 14.0x d. 5.0x
Liquidity Ratios NWAs financial statements contain the following information: Note: Round answers to two decimal places. Required: 1. What is its current ratio? 2. What is its quick ratio? 3. What is its cash ratio? 4. Discuss NWAs liquidity using these ratios.
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Company XYZ has the following balances: ⚫ Cash: $85 ⚫ Accounts Receivable: $165 Inventory: $275 ⚫ Accounts Payable: $195 ⚫ Short-term debt: $45 ⚫ Long-term debt: $750 What is the value of the quick ratio?