Recent balance sheet information for two companies in the food industry, Santa Fe Company and Madrid Company, is as follows (in thousands): Santa Fe Madrid Net property, plant, and equipment $564,720 $764,600 Current liabilities 160,538 500,650 Long-term debt 522,366 550,512 Other long-term liabilities 183,534 214,088 Stockholders' equity 228,010 301,250 a. Determine the ratio of liabilities to stockholders' equity for both companies. Round your answers to one decimal place. Santa Fe Madrid b. Determine the ratio of fixed assets to long-term liabilities for both companies. Round your answers to one decimal place. Santa Fe Madrid

Recent balance sheet information for two companies in the food industry, Santa Fe Company and Madrid Company, is as follows (in thousands): Santa Fe Madrid Net property, plant, and equipment $564,720 $764,600 Current liabilities 160,538 500,650 Long-term debt 522,366 550,512 Other long-term liabilities 183,534 214,088 Stockholders' equity 228,010 301,250 a. Determine the ratio of liabilities to stockholders' equity for both companies. Round your answers to one decimal place. Santa Fe Madrid b. Determine the ratio of fixed assets to long-term liabilities for both companies. Round your answers to one decimal place. Santa Fe Madrid

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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On June 30, 2019, Cassiopeia purchased the following shares at a total cost of P3,600,000: Aquila Grus Indus Number of shares 50,000 100,000 200,000 Total fair value 450,000 1,350,000 1,800,000 At the end of the year, the fair values of the shares are as follows: Aquila Grus Indus P12 16 6 On June 30, 2020, Cassiopeia sold half of its holdings in Indus at P7.50 per share. Prepare the journal entries in the books of Cassiopeia given the following independent assumptions: 1. SEPARATE JOURNAL ENTRIES for shares classified as Financial Asset at Fair Value through Profit or Loss (P/L) & Fair Value through Other Comprehensive Income (OCI