Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follow АСМЕ ($ in millions) Wayne Enterprises Corporation Current assets: Cash and cash equivalents Current investments $ 275 530 2$ 369 Net receivables 575 196 Inventory Other current assets 8,509 245 10,545 1,367 Total current assets $12,862 $9,755 Current liabilities: Current debt $ 8,521 Accounts payable Other current liabilities $4,400 1,051 2,416 1,797 1,008 Total current liabilities $11,326 $7,867 Required: 1-a. Calculate the current ratio for ACME Corporation and Wayne Enterprises. (Enter your answers in millions. For example, $5,500,000 should be entered as 5.5.) Current Ratio ACME Corporation Wayne Enterprises Cash

Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follow АСМЕ ($ in millions) Wayne Enterprises Corporation Current assets: Cash and cash equivalents Current investments $ 275 530 2$ 369 Net receivables 575 196 Inventory Other current assets 8,509 245 10,545 1,367 Total current assets $12,862 $9,755 Current liabilities: Current debt $ 8,521 Accounts payable Other current liabilities $4,400 1,051 2,416 1,797 1,008 Total current liabilities $11,326 $7,867 Required: 1-a. Calculate the current ratio for ACME Corporation and Wayne Enterprises. (Enter your answers in millions. For example, $5,500,000 should be entered as 5.5.) Current Ratio ACME Corporation Wayne Enterprises Cash

Name: **Selected Financial Data for ACME Corporation and Wayne Enterprises*
Uploaded: 2022-11-18T00:26:54.000Z
Channel: Bartleby
Description: **Selected Financial Data for ACME Corporation and Wayne Enterprises**### Financial Data Overview:The following table presents selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises.#### C

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Balance sheet ($ in millions) ASSETS Cash & Marketable Securities 449.90 Accounts Receivable 954.80 Inventories 3,645.20 Other Current Assets 116.60 Total Current Assets 5,166.50 Machinery & Equipment 1,688.90 Land 1,129.70 Buildings 2,348.40 Depreciation (575.60) Property, Plant & Equip. - Net 4,591.40 Other Long Term Assets 120.90 Total Long-Term Assets 4,712.30 Total Assets 9,878.80 part of Balance Sheet LIABILITIES Accounts Payable 1,611.20 Salaries Payable 225.20 Other Current Liabilities 1,118.80 Total Current Liabilities 2,955.20 Other Liabilities 693.40 Total Liabilities 3,648.60 SHAREHOLDER'S EQUITY Common Stock 828.50 Retained Earnings 5,401.70 Total Shareholder's Equity 6,230.20 Total Liabilities…
Which of the following statements is TRUE about Verizon's financial statements? verizon Consolidated Balance Sheets (In millions of dollars) As of As of Dec 31, 2020 $ 22,171 Dec 31, 2019 $ 2,594 ASSETS Cash and cash equivalents Accounts receivable 23,917 25,429 Inventories 1,796 1,422 Prepaid expenses and other current assets 6,710 8,028 Total current assets 54,594 37,473 Property and equipment, net Intangible assets Other long-term assets 94,833 91,915 152,814 151,640 10,699 $ 291,727 14,240 Total assets $ 316,481 LIABILITIES & EQUITY Debt maturing within one year $ 5,889 $ 10,777 Accounts payable and accrued liabilities 20,658 21,806 Other current liabilities 13,113 12,285 Total current liabilities 39,660 44,868 Long-term debt 123,173 100,712 Other long-term liabilities 84,376 83,312 Total liabilities 247,209 228,892 Common stock and additional paid in capital 13,833 13,858 Retained earnings 60,464 53,147 Accumulated other comprehensive income (5,025) (4,170) Total shareholders'…
What is the debit to asset ratio?
Use the information below for Harding Company to answer the question that follow. Harding Company Accounts payable $35,479 Accounts receivable 69,658 Accrued liabilities 6,342 Cash 21,866 Intangible assets 40,636 Inventory 81,299 Long-term investments 116,464 Long-term liabilities 78,760 Marketable securities 34,728 Notes payable (short-term) 21,173 Property, plant, and equipment 607,986 Prepaid expenses 2,827 Based on the data for Harding Company, what is the amount of quick assets? a.$56,594 b.$126,252 c.$1,510,965 d.$745,879
The following information is available in respect of Vegas plc for the last 2 years ended 31 December. Non-current Assets (at Net Book Value) Current Assets: Inventory Trade receivables Cash at bank Equity and Liabilities: Equity Share capital £1 Share premium Revenue reserve Vegas plc: Statement of Financial Position 31.12.2021 Non-current Liabilities: Loan Current Liabilities: Trade payables Taxation (accrual) Operating profit Taxation £000 390 462 80 88 142 £000 2,100 932 3.032 900 50 852 1,802 1,000 230 3.032 274 (156) 118 (87) 31 31.12.2020 Vegas plc: Income Statement (Extract) for the year ended 31.12.2021 £000 Dividends Retained profit for the year The following information is also available: • There were no non-current asset disposals during the year. • Depreciation for the year was £240,000. £000 210 346 50 73 137 £000 1,975 606 2.581 700 821 1,521 850 210 2.581 Prepare, in a suitable format, the Statement of Cash Flow for Vegas plc for the year ended 31.12.2021, presenting…
What's the total asset turnover ratio of this company? Assets: Cash and marketable securities Accounts receivable Inventories Prepaid expenses Total current assets Fixed assets Less: accum. depr. Net fixed assets Total assets Liabilities: Accounts payable Notes payable Accrued taxes Total current liabilities Long-term debt Owner's equity (1 million shares of common stock outstanding) Total liabilities and owner's equity Net sales (all credit) Less: Cost of goods sold Selling and administrative expense Depreciation expense Interest expense Earnings before taxes Income taxes Net income 1.41 2.33 O 4.45 1.11 8,000,000 (2,075,000) $600,000 900,000 1,500,000 75,000 $3,075,000 $5,925.000 $9,000,000 $800,000 700,000 50,000 $1,550,000 2,500,000 4,950,000 $9,000,000 $10,000,000 (3,000,000) (2,000,000) (250,000) (200,000) 4,550,000 (1,820,000) $2,730,000
Huluduey Corporation's comparative balance sheet for current assets and liabilities was as follows: Line Item Description Dec. 31, 20Y2 Dec. 31, 20Y1 Accounts receivable $17,500 $12,500 Inventory 51,650 44,200 Accounts payable 8,480 5,100 Dividends payable 9,480 6,100 Adjust net income of $75,800 for changes in operating assets and liabilities to arrive at net cash flows from operating activities.
What does the vertical analysis reveal on ABC Corporation in terms of Statement of Financial Position
Selected financial data for Wilmington Corporation is presented below. WILMINGTON CORPORATION Balance Sheet As of December 31 Year 7 Year 6 Current Assets Cash and cash equivalents $ 634,527 $ 335,597 Marketable securities 166,106 187,064 Accounts receivable (net) 284,226 318,010 Inventories 466,942 430,249 Prepaid expenses 60,906 28,060 Other current assets 83,053 85,029 Total Current Assets 1,695,760 1,384,009 Property, plant and equipment 1,384,217 625,421 Long-term investment 568,003 425,000 Total Assets $3,647,980 $2,434,430 Current Liabilities Short-term borrowings $ 306,376 $ 170,419 Current portion of long-term debt 155,000 168,000 Accounts payable 279,522 314,883 Accrued liabilities 301,024 183,681 Income taxes payable 107,509 196,802 Total Current Liabilities 1,149,431…
K. Jackson Corporation Assets Cash Accounts receivable Inventory Net fixed assets Total assets Liabilities and owners' equity. Accounts payable ST Notes payable Long-term debt Owners' Equity Total liabilities and owner's equity Balance Sheet $250,000 450.000 500,000 2.100,000 $3,300.000 $100.000 450.000 1,050,000 1,700.000 $3,300,000 Income Statement Sales (all credit) Cost of goods sold Operating expense Interest expense Income taxes Net income $8,000,000 (4.000.000) (2,900,000) (150,000) (380,000) $570,000 Based on the information for K. Jackson Corporation, the current and acid-test ratios are, respectively. OA2.37 and 1.39. OB2 37 and 1.27 OC2 18 and 1.39 OD.2 18 and 1.27 OE None of the above.
Am. 359.
Determine the amount of long-term debt for ABC Co. using the following balance sheet information: cash balance of $24,700, accounts payable of $96,526, common stock of $401,347, retained earnings of $501,930, inventory of $205,420, other assets equal to $77,911, net plant and equipment of $706,520, short-term notes payable of $30,000, and accounts receivable of $142,714. Long-Term Debt %24