Current Position AnalysisThe following data were taken from the comparative balance sheet of Osborn Sisters Company for the years ended December 31, 20Y9 and December 31, 20Y8:Dec. 31, 20Y9Dec. 31, 20Y8$209,200229,100249,700CashTemporary investmentsAccounts and notes receivable (net)InventoriesPrepaid expensesTotal current assetsAccounts payableAccrued liabilitiesTotal current liabilitiesWorking capitalCurrent ratioCheck My Work20Y91,104,000 ✓3.3 ✓20Y8688,000$283,4002.6 ✔302,400278,200388,800a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place.331,200$1,584,000$278,400201,600$480,000309,600120,400$1,118,000$301,000129,000$430,000PreviousNext > eBookAccounts payableAccrued liabilitiesTotal current liabilities.Working capitalCurrent ratioQuick ratioa. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place.20Y9Feedback1,104,0003.3 ✔Show Me How Video-1.3 X20Y8688,0002.6 ✓-1.3 X$278,400201,600$480,000b. The liquidity of Osborn Sisters Company has improvedincreased$301,000129,000$430,000✔from 20Y8 to the 20Y9. The working capital, current ratio, and quick ratio have allV.✓. Most of these changes are the result of an increase in current assets

Working capital is the difference between total current assets and total current liabilities.…

Current Position Analysis The following data were taken from the comparative balance sheet of Osborn Sisters Company for the years ended December 31, 20Y9 and December 31, 20Y8: Dec. 31, 20Y9 Dec. 31, 20Y8 Cash Temporary investments Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Accounts payable Accrued liabilities Total current liabilities Working capital Current ratio Check My Work 20Y9 1,104,000 ✓ 3.3 ✓ 20Y8 688,000 $283,400 2.6 ✔ 302,400 278,200 388,800 331,200 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. $1,584,000 $278,400 201,600 $480,000 $209,200 229,100 249,700 309,600 120,400 $1,118,000 $301,000 129,000 $430,000 Previous Next >

Current Position Analysis The following data were taken from the comparative balance sheet of Osborn Sisters Company for the years ended December 31, 20Y9 and December 31, 20Y8: Dec. 31, 20Y9 Dec. 31, 20Y8 Cash Temporary investments Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Accounts payable Accrued liabilities Total current liabilities Working capital Current ratio Check My Work 20Y9 1,104,000 ✓ 3.3 ✓ 20Y8 688,000 $283,400 2.6 ✔ 302,400 278,200 388,800 331,200 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. $1,584,000 $278,400 201,600 $480,000 $209,200 229,100 249,700 309,600 120,400 $1,118,000 $301,000 129,000 $430,000 Previous Next >

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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