Exercise 5-14 Computing and analyzing acid-test and current ratios LO A1CashCase XCase YCase Z$ 2,55024260$1,300Short-term investmentsCurrent receivables700290540650InventoryPrepaid expenses2,2502,0803,200400700900Total current assets$ 5,490$ 3,580$ 6,750Current liabilities$ 2,280$ 1,350$ 3,700Compute the current ratio and acid-test ratio for each of the following separate cases.Current RatioChoose Numerator:Choose Denominator:Current RatioCurrent assetsCurrent liabilitiesCurrent ratioCase X$45,490$42,280 =2.41 to 1Case Y2$3,5801,350 =2.65 to 1Case Z2$6,7502$3,7001.82 to 1%3DAcid-Test RatioChoose Denominator:Acid-Test RatioChoose Numerator:Quick assetsCurrent liabilitiesAcid-test ratio3,2402$2,2801.42 to 1Case X$2$1,350 =1.11 to 1Case Y2$1,5003,700 =0.96 to 1Case Z3,550

Ratio analysis is one of the important quantitative measurement tools to analyze and interpret the…

Exercise 5-14 Computing and analyzing acid-test and current ratios Case X Čase Y Case Z Cash Short-term investments Current receivables $ 2,550 $. 260 $ 1,300 700 290 540 650 Inventory Prepaid expenses 2,250 400 2,080 3,200 900 700 Total current assets $ 5,490 $ 3,580 $ 6,750 Current liabilities $ 2,280 $ 1,350 $ 3,700

Exercise 5-14 Computing and analyzing acid-test and current ratios Case X Čase Y Case Z Cash Short-term investments Current receivables $ 2,550 $. 260 $ 1,300 700 290 540 650 Inventory Prepaid expenses 2,250 400 2,080 3,200 900 700 Total current assets $ 5,490 $ 3,580 $ 6,750 Current liabilities $ 2,280 $ 1,350 $ 3,700

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

#6 Item Prior year Current year Accounts payable 8,182.00 7,768.00 Accounts receivable 6,011.00 6,766.00 Accruals Cash Common Stock COGS Current portion long-term debt Depreciation expense Interest expense Inventories Long-term debt 1,022.00 1,542.00 ??? ??? 11,535.00 12,370.00 12,726.00 18,265.00 4,989.00 5,013.00 2,500 2,833.00 733 417 4,158.00 4,820.00 14,080.00 14,452.00 Net fixed assets 51,720.00 54,916.00 Notes payable 4,306.00 9,860.00 Operating expenses (excl. depr.) 13,977 18,172 Retained earnings 28,006.00 29,332.00 Sales 35,119 47,524.00 Taxes 2,084 2,775 What is the firm's total change in cash from the prior year to the current year? Submit Answer format: Number: Round to: 0 decimal places.
7 Problem 8-9B (Algo) Calculate and analyze ratios (LO8-6) View previous attempt 3 points Ferris Air Selected financial data regarding current assets and current liabilities for Ferris Air and Oceanic Airlines are provided as follows: ($ in millions) Oceanic Airlines Current assets: Cash and cash equivalents $1,135 $3,784 Current investments 3,014 1,261 Net receivables 721 1,754 eBook Inventory 435 298 Other current assets 180 547 Total current assets $5,485 $7,644 Current liabilities: References Current debt $6,779 $6,691 Accounts payable 2,582 2,317 Other current liabilities 0 1,514 Total current liabilities $9,361 $10,522 Required: Mc Graw Hill 1-a. Calculate the current ratio for Ferris Air and Oceanic Airlines. 1-b. Which company has the more favorable current ratio? 2-a. Calculate the acid-test (quick) ratio for Ferris Air and Oceanic Airlines. 2-b. Which company has the more favorable acid-test ratio? Complete this question by entering your answers in the tabs below. Req 1A Req…
00:42 D 1,300 1,520 Scanned by TapScanner J From the following details prepare statement of proprieta funds with as many details as possible. (a) Stock velocity : 6 (b) (c) Capital turnover ratio (on cost of sales) : 2 Fixed assets turnover ratio (on cost of sales): 4 Gross profit turnover ratio : 20% (d) (e) Debtors velocity : 2 months Creditors velocity : 73 days The gross profit with Rs. 60,000, Reserves and surplus amour to Rs. 20,000. Closing stock was Rs. 5,000 in excess of opening stock. {கீழே கொடுக்கப்பட்டுள்ள விவரங்களைக் கொண்டு உரிமையாளர் நிதி அறிக்கையை தயார் செய்க. (அ) சரக்கிருப்பு சுழற்சி - 6 முதல் வியாபார விகிதம் (விற்பனை அடக்கத்தில் - 2 நிலையான சொத்து வியாபார விகிதம் (விற்பனை அடக்கத்தில்) மொத்த இலாப வியாபார விகிதம் - 20% கடனாளிகள் வசூல் வேகம் 2 மாதம் (ஊ) கடனீந்தோர் செலுத்துதல் வேகம் - 73 நாட்கள் மொத்த இலாபம் ரூ. 60,000, ஒதுக்கீடு மற்றும் மிகிதி ரூ.20,000, இறுதி சரக்கிருப்பு ரூ. சரக்கிருப்பை விட அதிகம். 5.000 ஆரம்ப Scanned by TapScanner Mayura's Students Advisor J11 23.…
step by step instructions no excel
Question 68 Using Financial Statements for 2018-2019. Net book value per share of common stock for 2019 is $17.46.
Question 95 Using Financial Statements for 2020, debt equity ratio for the year 2020 is 2.30.
Probability of financial Value of debt distress $0 0% $2,500,000 1% $5,000,000 2% $7,500,000 4% $10,000,000 8% $12,500,000 16% $15,000,000 32% $20,000,000 64%
Question 5 Zombie Berhad has the following trial balance at 31 December 2021: Revenue Purchases Returns inwards Plant at cost Machinery at cost Office equipment at cost Accumulated depreciation-- Plant Accounts payable Long-term borrowing Accounts receivable Inventory -- Machinery - Office equipment Cash and bank Administration expenses Long term borrowing interests Salaries and wages Marketing expenses Discount allowed Share capital Retained profits as at 1 Jan 2021 General Reserve Total RM 730,600 208,000 10,712,000 4,940,000 4,680,000 2,191,072 218,400 358,904 520,000 26,000 252,720 208,000 72,800 25,118,496 RM 7,602,504 936,000 988,000 520,000 629,200 1,040,000 • Ordinary share dividend proposed to be 6%. Long term borrowing interest where half year interest still owing. 8,320,000 4,602,208 480,584 25,118,496 ..5/- Additional information: • Inventory as at 31 December 2021 was RM447,200. • Provision for company tax was RM429,520. • Depreciation 20% on cost per annum based on…
Dec 31' Dec 31' Period Ending 2019 2020 Current Assets Cash And Cash Equivalents 3,803,377.00 3,310'509.00 Short Term Investments 10.000 100,000 Net Receivables 2,595,746.00 2,812,421.00 Inventory 551'244.00 646'295.00 Prepayments 252'852.00 207'662.00 Total Current Assets 7,213'289.00 7,318'652.00 Current Liabilities Accounts Payable 1'038'953.00 999'675.00 Short/Current Long Term Debt 1'563'378.00 1'519'483.00 Accruala 1'664'679.00 1'546'993.00 Total Current Liabilities 4'267'010.00 4'066'151.00 What is the Current Ratio for 2020 Select one: O a. 1.3:1 O b. 2.5:1 O c. 1.5:1 O d. 1.8:1
Balance Sheet for Bearcat Hathaway, 2022 2021 2022 Cash Accounts. Receivable $5,268,485 $10,268,485 Inventory $529,062 $696,685 Current Assets $8,371,777 $13,279,842 Less $2,574,230 $2,314,672 Gross Fixed Assets $16,251,665 $20,567,330 Accum.Depreciation Total Assets $7,460,897 $10,117,819 Accounts Payable Notes. Payable Current Liabilities Calculate the net working capital in 2022. Long Termi Debt Total Liabilities, None of these options are correct $10,572,740 $5,664,675 $8,854,338 $3,946,273 Total $17,162,545 $23,729,353 Liabilities and Equity Capital Surplus Retained. Earnings 2021 2022 $1,673,992 $2,438,271 Common Net Fixed Assets $8,790,768 $10,449,511 Stock ($0.50 $1,300,000 $1,600,000 par) $1,033,110 $1,987,233 $2,707,102 $4,425,504 $9,242,830 $11,468,302 $11,949,932 $15,893,806 $1,148,120 $1,800,969 $2,764,493 $4,434,578 $17,162,545 $23,729,353
With solutions
3