Kinston Corporation had the following financial data for the year ended December 31, 2023: Cash: $150,000 Cash Equivalents: $200,000 Total Current Liabilities: $500,000 What is the cash ratio as of December 31, 2023, for Kinston Corporation?
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What is the cash ratio of this financial accounting question?
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- Suppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in millions). 3M CompanyBalance Sheets (partial) 2020 2019Current assets Cash and cash equivalents $3,180 $1,836Accounts receivable, net 3,600 3,180Inventories 2,738 3,019Other current assets 1,932 1,590Total current assets $11,450 $9,625Current liabilities $4,830 $5,887 Calculate the current ratio and working capital for 3M for 2019 and 2020. (Round current ratio to 2 decimal places, e.g. 1.25 : 1. Enter working capital answers to million.) Current ratio 2019 :12020 :1 Working capital 2019 $ million2020 $ million Link to TextSuppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in millions). 3M CompanyBalance Sheets (partial) 2020 2019Current assets Cash and cash equivalents $3,200 $1,845Accounts receivable, net 3,450 3,180Inventories 2,639 3,042Other current assets 1,872 1,549Total current assets $11,161 $9,616Current liabilities $4,853 $5,893 (a)Calculate the current ratio and working capital for 3M for 2019 and 2020. (Round current ratio to 2 decimal places, e.g. 1.25 : 1. Enter working capital answers to million.) Current ratio 2019 :12020 :1 Working capital 2019 $ million2020 $ million (b)The parts of this question must be completed in order. This part will be available when you complete the part above.Hamad Corporation's total sales for 2022 were AED 800 million, and gross profit was AED 100 million, current assets AED 200 , cash AED 10 million, accounts receivables 90 million and account payable 40 million. Calculate accounts payable days , collection period, inventory days and accounts payable turn over.
- The following amounts have been taken from the recent financial statements for Merema Industries: Current Liabilities (1/1/2019) Current Liabilities Cash from (12/31/2019) Operations Expenditures on PPE $1,860,000 $2,925,000 $5,335,000 $840,000 To the closest hundredth, which of the following amounts is Merema's operating-cash-flow-to- current-liabilities ratio?Suppose the following financial data were reported by 3M Company for 2021 and 2022 (dollars in millions). Current assets 3M Company Balance Sheets (partial) Cash and cash equivalents Accounts receivable, net Inventories Other current assets Total current assets Current liabilities Screenshot Current ratio Working capital 2022 $ $3,180 3,600 2,738 1,932 $11,450 $4,830 2021 $1,836 3,180 3,019 1,590 Suppose that at the end of 2022, 3M management used $183 million cash to pay off $183 million of accounts payable. How would its current ratio and working capital have changed? (Round current ratio to 2 decimal places, e.g. 1.25: 1. Enter working capital answer to million.) $9,625 $5,887 :1 million DoneSuppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in millions). 3M CompanyBalance Sheets (partial) 2020 2019 Current assets Cash and cash equivalents $3,200 $1,881 Accounts receivable, net 3,500 3,175 Inventories 2,702 3,044 Other current assets 1,896 1,582 Total current assets $11,298 $9,682 Current liabilities $4,791 $5,869 1.Calculate the current ratio and working capital for 3M for 2019 and 2020. 2.Suppose that at the end of 2020, 3M management used $198 million cash to pay off $198 million of accounts payable. How would its current ratio and working capital have changed?
- Suppose McDonald's 2025 financial statements contain the following selected data (in millions). Current assets $3,461.5 Interest expense $480.0 Total assets 30,250.0 Income taxes 1,942.0 Current liabilities 3,010.0 Net income 4,538.0 Total liabilities 16,637.5 (a1) Compute the following values. a. Working capital. (Round to 1 decimal place in millions, e.g. 5,275.5.) $ 451.5 millions b. Current ratio. (Round to 2 decimal places, e.g. 6.25:1.) 1.15 :1 C. Debt to assets ratio. (Round to O decimal places, e.g. 62%.) 55 % d. Times interest earned. (Round to 2 decimal places, e.g. 6.25.) 14.50 timesSunland Corporation reports the following information for 2026: Net cash provided by operating activities Average current liabilities Average long-term liabilities Dividends declared Capital expenditures Payments of debt Sunland's cash debt coverage is 1.45. 3.59. 2.52. 3.42. $362500 144000 106000 55000 101000 36000Suppose the following financial data were reported by 3M Company for 2019 and 2020 (dollars in millions). 3M CompanyBalance Sheets (partial) 2020 2019 Current assets Cash and cash equivalents $3,040 $1,908 Accounts receivable, net 3,370 3,180 Inventories 2,774 3,016 Other current assets 1,956 1,628 Total current assets $11,140 $9,732 Current liabilities $4,882 $5,875 Calculate the current ratio and working capital for 3M for 2019 and 2020.
- The comparative statement of financial position and statement of comprehensive income of Keriboom on December 31, 2021 are shown below: Keriboom Statement of Financial Position As of December 31, 2021 ASSETS 2021 2020 Cash and cash equivalents 440,000 200,000 Trade and other receivables 130,000 120,000 Inventory 120,000 480,000 Prepaid assets 40,000 160,000 Total current assets 730,000 960,000 Property, plant & equipment 760,000 440,000 Total noncurrent assets 760,000 440,000 TOTAL ASSETS 1,490,000 1,400,000 LIABILITIES Trade and other payables 620,000 560,000 EQUITY Owner’s capital 870,000 840,000 TOTAL LIABILITIES & EQUITY 1,490,000 1,400,000 Entity A Statement of Comprehensive Income For the year ended December 31, 2021 Sales 1,000,000…Please answer accounting question correctlyCondensed balance sheet and income statement data for Coronado Corporation are presented here. Coronado CorporationBalance SheetsDecember 31 2022 2021 2020 Cash $ 29,700 $ 17,300 $ 17,100 Accounts receivable (net) 49,500 45,800 49,000 Other current assets 89,800 95,700 63,900 Investments 55,100 69,300 45,600 Property, plant, and equipment (net) 500,800 369,900 358,000 $724,900 $598,000 $533,600 Current liabilities $84,500 $80,200 $69,100 Long-term debt 145,100 84,100 49,100 Common stock, $10 par 354,000 321,000 308,000 Retained earnings 141,300 112,700 107,400 $724,900 $598,000 $533,600 Coronado CorporationIncome StatementsFor the Years Ended December 31 2022 2021 Sales $744,500 $606,300 Less: Sales returns and allowances 40,900 29,700 Net…