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Problem 8-9B (Algo) Calculate and analyze ratios (LO8-6) Selected financial data regarding current assets and current liabilities for Ferris Air and Oceanic Airlines are provided as follows: (s in millions) Current assets: Cash and cash equivalents Current investments Net receivables Inventory Other current assets Total current assets Current liabilities: Current debt Accounts payable Other current liabilities Total current liabilities. Reg 1A Ferris Air Req 18 $1,215 3,094 801 Req 2A 515 260 $5,885 $6,388 2,662 0 $9,050 Oceanic Airlines Required: 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 28 $4,584 1,341 1,834 378 627 $8,764 $6,641 2,397 1,594 $10,632 < Prev 9 of 11 Next >

Problem 8-9B (Algo) Calculate and analyze ratios (LO8-6) Selected financial data regarding current assets and current liabilities for Ferris Air and Oceanic Airlines are provided as follows: (s in millions) Current assets: Cash and cash equivalents Current investments Net receivables Inventory Other current assets Total current assets Current liabilities: Current debt Accounts payable Other current liabilities Total current liabilities. Reg 1A Ferris Air Req 18 $1,215 3,094 801 Req 2A 515 260 $5,885 $6,388 2,662 0 $9,050 Oceanic Airlines Required: 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 28 $4,584 1,341 1,834 378 627 $8,764 $6,641 2,397 1,594 $10,632 < Prev 9 of 11 Next >

FINANCIAL ACCOUNTING
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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ok k inces Other current liabilities Total current liabilities Required: 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? Req 1A Complete this question by entering your answers in the tabs below. Req 18 Other current liabilities. Total current liabilities Which company has the more favorable current ratio? Which company has the more favorable current ratio? Req 1A Req 2A Req 18. Acid-Test Ratio Req 1A Required: 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? Req 2A Other current liabilities Total current liabilities. $9,050 Req 28 Complete this question by entering your answers in the tabs below. Req 18 < Req 1A V $9,050 Req 2A Req 2B Calculate the acid-test (quick) ratio for Ferris Air and Oceanic Airlines. (Enter your answers in millions. For example, $5,500,000 should be entered as 5.5.) Ferris Air 1,594 $10,632 < Req 18 $9,050 Req 2A > Req 28 1,594 $10,632 Required: 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? Which company has the more favorable acid-test ratio? Which company has the more favorable acid-test ratio? < Req 2A Complete this question by entering your answers in the tabs below. Oceanic Airlines Req 28 > 1,594 $10,632 Req 20 >
Transcribed Image Text:ok k inces Other current liabilities Total current liabilities Required: 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? Req 1A Complete this question by entering your answers in the tabs below. Req 18 Other current liabilities. Total current liabilities Which company has the more favorable current ratio? Which company has the more favorable current ratio? Req 1A Req 2A Req 18. Acid-Test Ratio Req 1A Required: 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? Req 2A Other current liabilities Total current liabilities. $9,050 Req 28 Complete this question by entering your answers in the tabs below. Req 18 < Req 1A V $9,050 Req 2A Req 2B Calculate the acid-test (quick) ratio for Ferris Air and Oceanic Airlines. (Enter your answers in millions. For example, $5,500,000 should be entered as 5.5.) Ferris Air 1,594 $10,632 < Req 18 $9,050 Req 2A > Req 28 1,594 $10,632 Required: 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? Which company has the more favorable acid-test ratio? Which company has the more favorable acid-test ratio? < Req 2A Complete this question by entering your answers in the tabs below. Oceanic Airlines Req 28 > 1,594 $10,632 Req 20 >
Problem 8-9B (Algo) Calculate and analyze ratios (LO8-6) Selected financial data regarding current assets and current liabilities for Ferris Air and Oceanic Airlines are provided as follows: (s in millions) Current assets: Cash and cash equivalents Current investments Net receivables Inventory Other current assets Total current assets Current liabilities: Current debt Accounts payable Other current liabilities Total current liabilities Reg 1A Req 18 Req 1A Ferris Air Req 2A Req 18 $1,215 3,094 Required: 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? 801 515 260 $5,885 Complete this question by entering your answers in the tabs below. Current Ratio $6,388 2,662 0 $9,050 Reg 2A Req 28 Oceanic Airlines Required: 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? Req 28 $4,584 1,341 1,834 Complete this question by entering your answers in the tabs below. 378 627 $8,764 $6,641 2,397 1,594 $10,632 Ferris Air < Prev A 9 of 11 Calculate the current ratio for Ferris Air and Oceanic Airlines. (Enter your answers in millions. For example, $5,500,000 should be entered as 5.5.) Next > Oceanic Airlines Req 18 >
Transcribed Image Text:Problem 8-9B (Algo) Calculate and analyze ratios (LO8-6) Selected financial data regarding current assets and current liabilities for Ferris Air and Oceanic Airlines are provided as follows: (s in millions) Current assets: Cash and cash equivalents Current investments Net receivables Inventory Other current assets Total current assets Current liabilities: Current debt Accounts payable Other current liabilities Total current liabilities Reg 1A Req 18 Req 1A Ferris Air Req 2A Req 18 $1,215 3,094 Required: 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? 801 515 260 $5,885 Complete this question by entering your answers in the tabs below. Current Ratio $6,388 2,662 0 $9,050 Reg 2A Req 28 Oceanic Airlines Required: 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? Req 28 $4,584 1,341 1,834 Complete this question by entering your answers in the tabs below. 378 627 $8,764 $6,641 2,397 1,594 $10,632 Ferris Air < Prev A 9 of 11 Calculate the current ratio for Ferris Air and Oceanic Airlines. (Enter your answers in millions. For example, $5,500,000 should be entered as 5.5.) Next > Oceanic Airlines Req 18 >
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