General Accounting Cotuit Company has a current ratio of 5.9 and an acid-test ratio of 5.4. The company's current assets consistof cash, marketable securities, accounts receivable,and inventories. Inventory equals $14,000. CotuitCompany's current liabilities must bea. $12,400b. $60,000c. $28,000d. $216,000

Explanation of Current Ratio:The current ratio is a financial metric used to measure a company's…

Answered: Cotuit Company has a current ratio of…

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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Cotuit Company has a current ratio of 5.9 and an acid-test ratio of 5.4. The company's current assets consist of cash, marketable securities, accounts receivable, and inventories. Inventory equals $14,000. Cotuit Company's current liabilities must be _. a. $12,400 b. $60,000 c. $28,000 d. $216,000. Need help
Cotuit company's current liabilities must be
Cotuit Company has a current ratio of 5.9 and an acid-test ratio of 5.4. The company's current assets consist of cash, marketable securities, accounts receivable, and inventories. Inventory equals $14,000. Cotuit Company's current liabilities must be _. a. $12,400 b. $60,000 c. $28,000 d. $216,000. Need help to get solution for this financial accounting problem
Cotuit liabilities must be
Chen company has current assets equal to $5000000. Of these $1000000 is cash $2250000 is accounts receivable. $500000 is inventory and the remainder is marketable securities. Current liability total $4,000,000 calculate quick ratio and round to nearest two decimals.
Sheridan 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
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.)
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The most recent balance sheet of Raconteurs, Inc., (in millions) is found here. Calculate Raconteurs’ current ration and acid-test (quick) ratio. Benchmark ratios for the current and acid-test (quick) ratio are 1.49 and 1.22 respectively. What can you say about the liquidity of Raconteur’s operations based on these two ratios?
ABC 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:?????????
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Cotuit Company has a current ratio of 5.9 and an acid- test ratio of 5.4. The company's current assets consist of cash, marketable securities, accounts receivable, and inventories. Inventory equals $14,000. Cotuit Company's current liabilities must be a. $12,400 b. $60,000 c. $28,000 d. $216,000