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

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#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…
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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.
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