Lakewood Enterprises has a current ratio of 5:1 and an acid-test ratio of 2:1. If the inventories and prepaid items amount to $450,000, what is the amount of current liabilities?
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What is the amount of current liabilities on these general accounting question?
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- provide correct answer. sub. general account.Kingery Corporation has current assets of $1,800,000 and current liabilities of $750,000. If they pay $250,000 of their accounts payable, what will their new current ration be, given that the current ratio is current assets/current liabilities?Hummel Inc. has $30,000 in current assets and $15,000 in current liabilities. What is Hummels current ratio? a. 3 c. 1 b. 2 d. 0.5
- General AccountingAnswer each of the questions in the following unrelated situations.(a) The current ratio of a company is 6:1 and its acid-test ratio is 1:1. If the inventories and prepaid items amount to $548,000, what is the amount of current liabilities?ABC has the following current assets: cash, $102 million; receivables, $94 million; inventory, $182 million; other current assets, $18 million. ABC also has the following liabilities: accounts payable, $98 million; long-term debt, $23 million. Based on these amounts, what is the acid-test ratio ? Numeric Response:?????????
- Love Company has current assets of P400,000 including inventory of P160,000 and a quick ratio of 2:1. Based on available data, how much is the current liabilities?You are given the following information. What is your liquidity ratio? Annual disposable income: $45,000 Total liabilities: $17,400 Annual savings: $2,400 Long-term assets: $85,000 Current ratio: 2 Debt-to-asset ratio: 0.2 Select one: a. 0.90 b. 0.56 c. 0.89 d. 0.53The Maurer Company has a long-term debt ratio of .27 and a current ratio of 1.30. Current liabilities are $830, sales are $6,250, profit margin is 8.6 percent, and ROE is 18.8 percent. What is the amount of the firm’s net fixed assets? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
- Southern Style Realty has total assets of $485,390, net fixed assets of $250,000, current liabilities of $23,456, and long-term liabilities of $148,000. What is the total debt ratio? Can you provide the formula?The Maurer Company has a long-term debt ratio of .39 and a current ratio of 1.70. Current liabilities are $950, sales are $6,370, profit margin is 9.8 percent, and ROE is 20 percent. What is the amount of the firm’s net fixed assets? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)JT Engineering's current asset information is shown here. If JT's current liabilities are $300,000, what is JT's current ratio and what is its acid-test ratio? Round each ratio to the nearest hundredth. Current Assets Cash $ 9.000 Short-term investments 89.000 Accounts receivable 76.000 Inventory Prepaid expenses 130,000 40,000 Total current assets $344,000 The current ratio is 1.15 times and the acid-test ratio is 0.58 times. The current ratio is 0.58 times and the acid-test ratio is 1.01 times. The current ratio is 0.58 times and the acid-test ratio is 1.15 times. The current ratio is 1.65 times and the acid-test ratio is 0.71 times.