Homework Help is Here – Start Your Trial Now!
Business
Accounting
Current position analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets 1. Working capital 2. Current ratio $593,600 687,300 281,100 1,077,800 555,200 $3,195,000 Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities 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 3. Quick ratio b. The liquidity of Nilo has ( of an $496,000 558,000 186,000 718,600 459,400 $2,418,000 $411,800 298,200 $710,000 $434,000 186,000 $620,000 from the preceding year to the current year. The working capital, current ratio, and quick ratio have all In current assets relative to current liabilities.

Current position analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets 1. Working capital 2. Current ratio $593,600 687,300 281,100 1,077,800 555,200 $3,195,000 Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities 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 3. Quick ratio b. The liquidity of Nilo has ( of an $496,000 558,000 186,000 718,600 459,400 $2,418,000 $411,800 298,200 $710,000 $434,000 186,000 $620,000 from the preceding year to the current year. The working capital, current ratio, and quick ratio have all In current assets relative to current liabilities.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Need help filling in the following blank information. Thank you!

Current position analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities. 1. Working capital 2. Current ratio $593,600 687,300 281,100 1,077,800 555,200 $3,195,000 3. Quick ratio b. The liquidity of Nilo has of an $411,800 298,200 $710,000 $496,000 558,000 186,000 718,600 459,400 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 $2,418,000 $434,000 186,000 $620,000 from the preceding year to the current year. The working capital, current ratio, and quick ratio have all in current assets relative to current liabilities. . Most of these changes are the result
Transcribed Image Text:Current position analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities. 1. Working capital 2. Current ratio $593,600 687,300 281,100 1,077,800 555,200 $3,195,000 3. Quick ratio b. The liquidity of Nilo has of an $411,800 298,200 $710,000 $496,000 558,000 186,000 718,600 459,400 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 $2,418,000 $434,000 186,000 $620,000 from the preceding year to the current year. The working capital, current ratio, and quick ratio have all in current assets relative to current liabilities. . Most of these changes are the result
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Ratio Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS