Current Position Analysis The following data were taken from the balance sheet of Albertini Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $446,900 $372,400 Marketable securities 517,400 419,000 Accounts and notes receivable (net) 211,700 139,600 Inventories 1,071,800 807,000 Prepaid expenses 552,200 516,000 Total current assets $2,800,000 $2,254,000 Current liabilities: Accounts and notes payable (short-term) $324,800 $343,000 Accrued liabilities 235,200 147,000 Total current liabilities $560,000 $490,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year Previous Year 1. Working capital $fill in the blank 1 $fill in the blank 2 2. Current ratio fill in the blank 3 fill in the blank 4 3. Quick ratio fill in the blank 5 fill in the blank 6
Current Position Analysis The following data were taken from the balance sheet of Albertini Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $446,900 $372,400 Marketable securities 517,400 419,000 Accounts and notes receivable (net) 211,700 139,600 Inventories 1,071,800 807,000 Prepaid expenses 552,200 516,000 Total current assets $2,800,000 $2,254,000 Current liabilities: Accounts and notes payable (short-term) $324,800 $343,000 Accrued liabilities 235,200 147,000 Total current liabilities $560,000 $490,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year Previous Year 1. Working capital $fill in the blank 1 $fill in the blank 2 2. Current ratio fill in the blank 3 fill in the blank 4 3. Quick ratio fill in the blank 5 fill in the blank 6
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Current Position Analysis
The following data were taken from the balance sheet of Albertini Company at the end of two recent fiscal years:
| Current Year | Previous Year | |||||
| Current assets: | ||||||
| Cash | $446,900 | $372,400 | ||||
| Marketable securities | 517,400 | 419,000 | ||||
| Accounts and notes receivable (net) | 211,700 | 139,600 | ||||
| Inventories | 1,071,800 | 807,000 | ||||
| Prepaid expenses | 552,200 | 516,000 | ||||
| Total current assets | $2,800,000 | $2,254,000 | ||||
| Current liabilities: | ||||||
| Accounts and notes payable | ||||||
| (short-term) | $324,800 | $343,000 | ||||
| Accrued liabilities | 235,200 | 147,000 | ||||
| Total current liabilities | $560,000 | $490,000 |
a. Determine for each year (1) the
| Current Year | Previous Year | |||||
| 1. Working capital | $fill in the blank 1 | $fill in the blank 2 | ||||
| 2. Current ratio | fill in the blank 3 | fill in the blank 4 | ||||
| 3. Quick ratio | fill in the blank 5 | fill in the blank 6 |
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