From page 8-5 of the VLN, what was thecompany's current ratio before paying offthe A/P (carry out to one decimal place)? GAIN CONTINGENCIES-not recorded until gain is certain- Conservatism-ANALYSISLiquidity is being able to pay current debtsWorking Capital = CA - CLCurrent RatioCA/CLAcid-test Ratio aka Quick Ratio = (Cash + Current investments+A/R)/CL--does not include inventory or prepaid-assets--uses assets that can be easily converted to cashPracticeUA, Inc., shows the following balance sheet accounts;IDENTIFY the CURRENT assets & liabilities:AssetsLiabilities$25,00020,0001,000,00015,00075,000Cash$50,000 Note payable due in six monthsAccounts receivableLand30,000 Accounts payable200,000 Bond Payable70,000 Payroll taxes payableShort term investmentsPPE, net1,250,000 Note payable due in 18 monthsInventoryIntangible assets55,000 Current portion of Long Term Debt45,000 Deferred revenue10,0005,00050,000Other current5,000 Long Term DebtDetermine totalCURRENT Assets:Determine TotalCURRENT Liabilities:Calculate working capital:Calculate the current ratio:Calculate the quick ratio:Assume UA paid off its A/P with cash; re-calculate:Working capital:Current ratio:Quick ratio:

Name: From page 8-5 of the VLN, what was thecompany's current ratio before
Uploaded: 2022-11-18T00:26:54.000Z
Channel: Bartleby
Description: From page 8-5 of the VLN, what was thecompany's current ratio before paying offthe A/P (carry out to one decimal place)? GAIN CONTINGENCIES-not recorded until gain is certain- Conservatism-ANALYSISLiquidity is being able to pay current debtsWorking

when talking about Finance for the business liquidity is considered to be a major issue in terms of…

Business

Accounting

Conservatism ANALYSIS Liquidity is being able to pay current debts Working Capital = CA - CL Current Ratio CA/CL Acid-test Ratio aka Quick Ratio = (Cash + Current investments +A/R)/CL --does not include inventory or prepaid-assets --uses assets that can be easily converted to cash Practice UA, Inc., shows the following balance sheet accounts; IDENTIFY the CURRENT assets & liabilities: Assets Liabilities Cash Accounts receivable Land Short term investments PPE, net Inventory Intangible assets Other current $50,000 Note payable due in six months 30,000 Accounts payable 200,000 Bond Payable 70,000 Payroll taxes payable 1,250,000 Note payable due in 18 months 55,000 Current portion of Long Term Debt 45,000 Deferred revenue $25,000| 20,000 1,000,000 15,000 75,000 10,000| 5,000 50,000 5,000 Long Term Debt Determine total CURRENT Assets: Determine Total CURRENT Liabilities: Calculate working capital: Calculate the current ratio: %24

Conservatism ANALYSIS Liquidity is being able to pay current debts Working Capital = CA - CL Current Ratio CA/CL Acid-test Ratio aka Quick Ratio = (Cash + Current investments +A/R)/CL --does not include inventory or prepaid-assets --uses assets that can be easily converted to cash Practice UA, Inc., shows the following balance sheet accounts; IDENTIFY the CURRENT assets & liabilities: Assets Liabilities Cash Accounts receivable Land Short term investments PPE, net Inventory Intangible assets Other current $50,000 Note payable due in six months 30,000 Accounts payable 200,000 Bond Payable 70,000 Payroll taxes payable 1,250,000 Note payable due in 18 months 55,000 Current portion of Long Term Debt 45,000 Deferred revenue $25,000| 20,000 1,000,000 15,000 75,000 10,000| 5,000 50,000 5,000 Long Term Debt Determine total CURRENT Assets: Determine Total CURRENT Liabilities: Calculate working capital: Calculate the current ratio: %24

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

*Use Accrual Accounting Base Method Chart of Accounts (strictly use it): ASSETS: Cash and Cash Equivalents: Petty Cash Cash on Hand Cash in Bank Accounts Receivables Merchandise Inventory Prepaid Expenses Supplies Fixed Assets Leasehold Improvements Accumulated Depreciation - Leasehold Improvements Accumulated Depreciation - Transportation and Other Equipment Other Assets LIABILITIES: Accounts Payable Accrued Expenses and Other Liabilities Income Tax Payable EQUITY: Owner’s Capital Retained Earnings INCOME STATEMENT: Income: Sales Sales Discount Sales Returns and allowances Cost of Sales: Cost of Sales Expenses: Salary Expenses Rent Expenses Professional Fees Transportation Expenses Depreciation Expenses – Leasehold Improvements Depreciation Expenses – Transportation and Other Equipment Insurance Expenses Supplies Expenses Utility Expenses Miscellaneous Expenses Income Tax Income Tax Expense…
Please answer question IV, v, VI
Don't provide answer in image format
Do not give answer in image
Net working capital increases when: A. a credit customer pays for his or her purchase B. inventory is sold at cost. C. fixed assets are purchased for cash D. inventory is purchased on credit
A) Comment on any significant changes in each company in the composition of current assets and current liabilities. Explain. b) Which assets in each company have the most significant investment? Why? c) Are the companies financed primarily with debt or equity? Why?
Please do not give solution in image format ? And Fast Answering Please ? And Explain Proper Step by Step.
Assets Current assets Cash and cash equivalents Accounts receivable, net Supplies Other current assets Total current assets Property and equipment Accumulated depreciation Net property and equipment Goodwill Deferred charges Other Total assets Liabilities and equity Current liabilities Accounts payable Accrued liabilities Current maturities of long-term debt Total current liabilities Operating lease liabilities non-current Long-term debt Other non-current liabilities Total liabilities Total liabilities Common stock Cummulative dividends Retained earnings Other Total equity Total liabilities and equities Revenue, net Operating charges Salaries, wages, and benefits Other operating expenses Supplies expense Depreciation and amortization Lease and rental expense Total operating charges Income from operations Interest expense, net Other (income) expense, net Income before income taxes Provision for income taxes Net income $61,268 1,560,847 Cost of debt (%) Cost of equity (%) Weighted…
Which of the following shows how paying cash to purchase supplies will affect a company's financial statements? Multiple Choice Assets = Liabilities + Assets Assets +/- Balance Sheet Assets +/- ΝΑ Balance Sheet = Liabilities + ΝΑ Balance Sheet = Liabilities + ΝΑ Balance Sheet = Liabilities + ΝΑ Stockholders' Equity Stockholders' Equity Stockholders' Equity ΝΑ Stockholders' Equity ΝΑ Revenue ΝΑ Revenue ΝΑ Revenue ΝΑ Revenue ΝΑ Income Statement Expense = Net Income ΝΑ Income Statement Expense = Net Income + Income Statement ΝΑ Expense = Net Income ΝΑ Income Statement ΝΑ Expense = Net Income ΝΑ ΝΑ Statement of Cash Flows -Operating Activity Statement of Cash Flows ΝΑ Statement of Cash Flows -Operating Activity Statement of Cash Flows ΝΑ
Net sales Cost of goods sold Gross profit Expenses: Operating expenses Depreciation expense Loss on sale of land. Interest expense VIRTUAL GAMING SYSTEMS Income Statements For the Years Ended December 31 Income tax expense Total expenses Net income. Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investment in bonds Land Equipment Less: Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable 2025 $3,495,000 2,477,000 1,018,000 952,000 27,000 Stockholders' equity: Common stock Retained earnings Total liabilities and stockholders' equity 16,500 7,700 1,003, 200 14,800 2024 $3,021,000 1,947,000 1,074,000 VIRTUAL GAMING SYSTEMS Balance Sheets December 31 855,000 25,500 7,700 13,500 46,500 948,200 125,800 2025 $199,500 73,500 123,500 13,700 102,000 297,000 297,000 (91,500) $1,014,700 $213,600 8,100 11,700 370,000 297,000…
Please do not give solution in image format thanku
Which of the following will be reflected in the "Cash flows from operating activities" of a Statement of Cash Flows? O A. Adjustment for depreciation O B. Purchase of equipment O C. Increase or decrease in loans O D. Purchase of inventory Previous page nttps://mancosaconnectacza/mad/ouiz/attempt.php?attempt=446654&cmid=D181433&page=18%3D Tume bere to search II