Cotuit Company has a current ratio of 3.8 and an acid-test ratio of 3.6. The company's current assets consist of cash, marketable accounts receivable, and Inventory equals $12,000. Cotuit Company's current liabilities must be securities, inventories. a. $2,400 b. $60,000 c. $12,000 d. $216,000
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- We are given the following information for the Pettit Corporation. Sales (credit) Cash Inventory Current liabilities Asset turnover Current ratio Debt-to-assets ratio Receivables turnover $ 2,880,000 188,000 890,000 811,000 1.35 times 2.30 times a. Accounts receivable b. Marketable securities c. Fixed assets d. Long-term debt 40 % 5 times Current assets are composed of cash, marketable securities, accounts receivable, and inventory. Lienser Fraktala TAMARA TANT RISHI TRITATE FAST JET PARETSTRANS I nemal osted or annemangen MANENBER HAGPAINT MANSION LARPURCO Calculate the following balance sheet items. (Do not round intermediate calculations. Round your final answers to the nearest whole number.)Q16. Use the following information to calculate the net liquid balance: Cash and equivalents $10 Accounts receivable = $30, Inventory = $25, Accounts payable $10, Notes payable = $25 a. $-25 b. $-15 c. $35 d.$70 Q17. Which of the following best characterizes a firm with current assets of $5,000 and current liabilities of $1,000? A.Liquid B.Solvent C.Insolvent D.Unprofitable Q18. which of the following best describes days sales outstanding? A. average time it takes to collect on a credit sale B. average length of time inventoried item is in stock before it is sold C. average length of time it takes to turn a cash outflow into a cash inflow D. average time between receipt of inventory and collection on a credit sale Q20. The ability of a firm to pay its bills on time while remaining a viable entity is referred to as: A.liquidity B. solvency C. cash conversion cycle D.the net liquidity balanceSheridan Industries has the following current assets and liabilities on the company's balance sheet: Cash $14080: Accounts Receivable $5600 Inventory $53000: Prepaid Rent $2900 Accounts Payable $19000 and Unearned Revenue $5000. The company's acid-test ratio would be O 101:1 O 122:1 0 032:1 Ⓒ 0.27:1
- Please show calculationABC has the following current assets: cash, $102 million; receivables, $94 million; inventory, $182 million; other current assets, $18 million. ABC also has the following liabilities: accounts payable, $98 million; long-term debt, $23 million. Based on these amounts, what is the acid-test ratio ? Numeric Response:?????????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
- Current Attempt in Progress Aspect Ltd has the following balance sheet figures. The current ratio is: Total current assets $450 000 Total current liabilities Inventory Bank overdraft O 2:1. O 1.67:1. 3.75:1. 3:1. Save for Later 150 000 200 000 30 000Cullumber Company has these comparative balance sheet data: CULLUMBER COMPANYBalance SheetsDecember 31 2022 2021 Cash $ 16,350 $ 32,700 Accounts receivable (net) 76,300 65,400 Inventory 65,400 54,500 Plant assets (net) 218,000 196,200 $376,050 $348,800 Accounts payable $ 54,500 $ 65,400 Mortgage payable (15%) 109,000 109,000 Common stock, $10 par 152,600 130,800 Retained earnings 59,950 43,600 $376,050 $348,800 Additional information for 2022: 1. Net income was $34,000. 2. Sales on account were $383,300. Sales returns and allowances amounted to $26,600. 3. Cost of goods sold was $200,600. 4. Net cash provided by operating activities was $59,000. 5. Capital expenditures were $26,400, and cash dividends were $16,500. Compute the following ratios at December 31, 2022. (Round current ratio and inventory turnover to 2 decimal…Cullumber Company has these comparative balance sheet data: CULLUMBER COMPANYBalance SheetsDecember 31 2022 2021 Cash $ 16,350 $ 32,700 Accounts receivable (net) 76,300 65,400 Inventory 65,400 54,500 Plant assets (net) 218,000 196,200 $376,050 $348,800 Accounts payable $ 54,500 $ 65,400 Mortgage payable (15%) 109,000 109,000 Common stock, $10 par 152,600 130,800 Retained earnings 59,950 43,600 $376,050 $348,800 Additional information for 2022: 1. Net income was $34,000. 2. Sales on account were $383,300. Sales returns and allowances amounted to $26,600. 3. Cost of goods sold was $200,600. 4. Net cash provided by operating activities was $59,000. 5. Capital expenditures were $26,400, and cash dividends were $16,500. (d) Inventory turnover. enter inventory turnover in times rounded to 2 decimal places times (e)…
- The following information is available from the annualreport of Frixell, Inc.: Currentliabilities . . . . $300,000Operatingincome . . . . . 240,000Net income . . . . 80,000 Currentassets . . . . $ 480,000Average totalassets . . . . 2,000,000Average totalequity . . . . 800,000Which of the following statements are correct? (More thanone statement may be correct.)a. The return on equity exceeds the return on assets.b. The current ratio is 0.625 to 1.Under Armour has the following current assets: cash, $102 million; receivables, $94 million; inventory, $182 million; and other current assets, $18 million. Under Armour has the following liabilities: accounts payable, $98 million; current portion of long-term debt, $35 million; and long-term debt, $23 million. Based on these amounts, calculate the current ratio and the acid-test ratio for Under Armour.Calculating the Current Ratio and the Quick (or Acid-Test) Ratio Hannah Company has current assets equal to $3,800,000. Of these, $1,200,000 is cash, $1,800,000 is accounts receivable, $500,000 is inventory, and the remainder is marketable securities. Current liabilities total $2,073,000. Required: Note: Round answers to two decimal places. 1. Calculate the current ratio.fill in the blank 1 2. Calculate the quick ratio (acid-test ratio).fill in the blank 2