The balance sheet of Canyon Gear Co. reports the following: Description Amount Cash $750,000 Accounts receivable $500,000 Inventory $350,000 Marketable securities $300,000 Current liabilities $600,000 Long-term liabilities $800,000 Based on the information provided, calculate the quick ratio. a. 2.58 b. 2.58 c. 2.08 d. 2.58
Q: Problm related to General accounting
A: Explanation of Return on Assets (ROA): This is a financial ratio that shows how efficiently a…
Q: What is heart & soul's contribution margin per unit in dollars?? General accounting
A: Step 1: Define Contribution MarginThe contribution margin is the surplus revenue over the variable…
Q: Accounting Problem 4.8.14: Berlin's TVs has current liabilities of $26.7 million. Cash makes up 41…
A: Explanation of Current Ratio:The current ratio is a liquidity measure that evaluates a company's…
Q: Babel Ltd uses predetermined overhead rates based on labor hours. The monthly budgeted overhead is…
A: Explanation of Predetermined Overhead Rate: Predetermined Overhead Rate is a calculated rate used to…
Q: Answer this general accounting question
A: Step 1: Calculation of Predetermined overhead rateStep 2: Calculation of Applied OverheadsApplied…
Q: Gm has a market value of... Please provide answer this financial accounting question
A: To calculate the weights of equity and debt for WACC, we use the formula: Weight of Equity…
Q: Harborline manufacturing company's accounting records... Please answer the financial accounting…
A: Step 1: Define Cost of Goods Manufactured (COGM)Cost of Goods Manufactured (COGM) is the total cost…
Q: Need answer to this financial accounting problem
A: Explanation of Cost of Goods Sold (COGS):Cost of Goods Sold (COGS) refers to the direct costs…
Q: Financial accounting question
A: Step 1: Define Return on assetReturn on asset (ROA) is a company profitability ratio which measures…
Q: Hi, tutor solve this accounting problem
A: Explanation of Total Manufacturing Cost:Total manufacturing cost represents the total expenses…
Q: general account
A: Step 1: Inventory means the goods not sold at the end of accounting year. It is calculated as…
Q: What is rural hydroponics total assets turnover?
A: Step 1: Total assets Total assets = Total liabilities + Total equityTotal assets = $435,000 +…
Q: What are the total assets on these general accounting question?
A: Step 1: Define Total AssetsTotal assets represent the sum of everything a company owns that has…
Q: I want to this question answer general Accounting
A: Step 1: Define Return on Assets (ROA)ROA measures a company's profitability relative to its total…
Q: The unit product cost under super-variable costing is: @ financial account.
A: Step 1: Understand Super-Variable CostingUnder super-variable costing, only variable costs directly…
Q: Kindly help me with general Accounting question
A: Step 1: Define Dividend Yield:The dividend yield ratio indicates the payment of the corporation's…
Q: General accounting
A: Step 1: Calculation of total assetsTotal assets = Total debt + Total equityTotal assets = $91,000 +…
Q: Answer this Question
A: Step 1: The information related to the non-refundable advance payments is (in millions):Customer…
Q: What is the level of fixed costs?
A: Step 1: Definition of Fixed CostsFixed costs are expenses that do not change with variations in…
Q: I want to this question answer general Accounting
A: Step 1: Define ReceivablesReceivables are the balance of payments that is yet to be received by the…
Q: Please provide this question solution general accounting
A: Step 1: Definition of Fixed CostFixed costs are expenses that do not change with the level of…
Q: Stockholder 's equity at the end of the year was??
A: Explanation of Stockholders' Equity:Stockholders' equity is the residual value of assets remaining…
Q: 1. Current assets 400000 2. Total assets 895000
A: Explanation of Gross Profit:Gross profit represents the amount of revenue that remains after…
Q: What is company bs net income?
A: Step 1: Definition of Net IncomeNet income represents the amount of earnings remaining after all…
Q: Does the pattern of variances suggest Pro Fender's managers have been making trade-offs?
A: To determine if Pro Fender's managers have been making trade-offs, we need to compute the cost and…
Q: Choose correct option in this account query.
A: Step 1: Key InformationBeginning Inventory:Units: 750Materials Cost: $7,800 (60% complete)Conversion…
Q: PLease answer. General Account.
A: Step 1: Calculation of Beginning Shareholders' EquityBeginning Shareholders' Equity = Beginning…
Q: Rondeys assets turnover ratio for 2016 ?
A: Explanation: The formula to calculate the asset turnover ratio is as follows:Asset turnover ratio =…
Q: Fit & Slim (F&S) is a health club that offers members various gym services. Required:…
A: In this case, the performance obligations for F&S are the provision of gym facilities and the…
Q: What is heart & soul's contribution margin per unit in dollars??
A: Contribution margin per unit is the amount by which the selling price of a single unit exceeds its…
Q: GIRU Company
A: Step 1:First calculate the standard direct labor rate: Direct labor efficiency variance = (Actual…
Q: What is the amount of the May collections on these general accounting question?
A: The year has 360 days. 360 days / 30 days accounts receivable period = 12 months. This means that…
Q: I want to correct answer accounting questions
A: Step 1: Definition of Accounts Receivable Control AccountThe control account in the general ledger…
Q: If a firm experience decreases in the per-unit costs of production as its network increases, then…
A: A. Economies of ScopeThe cost benefits that a company receives by manufacturing a range of goods…
Q: Kindly help me with accounting questions
A: Explanation: The formula to calculate Book value per share is = Common equity/No. of common shares…
Q: Financial Accounting
A: For this question we must solve for the weight of each source of capital in computing for the…
Q: None
A: Equity Multiplier = 1/EquityEquity Multiplier = 1/(2/3)Equity Multiplier = 1.5 Net Profit Margin =…
Q: Financial Accounting
A: Step 1: Define Debt-to-Equity RatioThe debt-to-equity ratio is a financial metric that measures the…
Q: General account
A: Explanation of Labor Rate Variance:Labor rate variance measures the difference between the standard…
Q: Provide correct answer general Accounting
A: Step 1: Define InterestWhen a company borrows through loans or negotiable instruments, it should pay…
Q: Calculate the adjusted net income?? General accounting
A: Step 1: Definition of Adjusted Net IncomeAdjusted net income is the company's reported net income…
Q: I want to correct answer accounting questions
A: Step 1: Definition of TermsCash Conversion Cycle (CCC): The CCC measures the time it takes for a…
Q: Quick answer of this accounting questions
A: Step 1: Definition of COGS Adjusted to Cash BasisTo adjust Cost of Goods Sold (COGS) to a cash…
Q: Billinstaff Industries uses the weighted-average method in its process costing system. Data for the…
A: To compute the cost per equivalent unit for materials, labor, and overhead, and the total cost per…
Q: Ash Merchandising Company expects to purchase $86,000 of materials in July and $118,000 of materials…
A: Concept of Materials PurchasesMaterials purchases refer to the cost of raw materials that a company…
Q: Please need help with this general accounting question
A: Step 1: Define Direct Labor Price VarianceThe direct labor price variance measures the difference…
Q: Please solve this question general Accounting
A: Step 1: The accrued interest expense from September 1 to December 31, 2018 will be recorded on…
Q: ???
A: Step 1:First calculate the cost of the home theater for the employer: Cost of home theater = Retail…
Q: Expert need your help
A: Calculation of the Predetermined Overhead Rate Predetermined Overhead Rate = Budgeted Overhead /…
Q: Need help with this accounting questions
A: To answer the question correctly, let's calculate Rose Inc.'s taxable income step by…
What is the quick ratio on these financial accounting question?
Step by step
Solved in 2 steps with 1 images
- Calculate the following for Co. XYZ: a. Current ratio b. Debt ratio Assets: Cash and marketable securities $400,000 Accounts receivable 1,415,000 Inventories 1,847,500 Prepaid expenses 24,000 Total current assets $3,686,500 Fixed assets 2,800,000 Less: accumulated depreciation 1,087,500 Net fixed assets $1,712,500 Total assets $5,399,000 Liabilities: Accounts payable $600,000 Notes payable 875,000 Accrued taxes Total current liabilities $1,567,000 Long-term debt 900,000 Owner's equity Total liabilities and owner's equity Co. XYZ Income Statement: Net sales (all credit) $6,375,000 Less: Cost of goods sold 4,375,000 Selling and administrative expense 1,000,500 Depreciation expense 135,000 Interest expense Earnings before taxes $765,000 Income taxes Net income Common stock dividends $230,000 Change in retained earningsConsider this simplified balance sheet for Geomorph Trading: Current assets $ 350 Current liabilities $ 310 Long-term assets 700 Long-term debt 180 Other liabilities 70 Equity 490 $ 1,050 $ 1,050 Required: What is the company’s debt-equity ratio? Note: Round your answer to 2 decimal places. What is the ratio of total long-term debt to total long-term capital? Note: Round your answer to 2 decimal places. What is its net working capital? What is its current ratio?Consider this simplified balance sheet for Geomorph Trading: Current assets Long-term assets $ 110 510 Net working capital $ 620 a. Debt-equity ratio b Long-term debt-to-capital ratio C. d. Current ratio a. What is the company's debt-equity ratio? (Round your answer to 2 decimal places.) b. What is the ratio of total long-term debt to total long-term capital? (Round your answer to 2 decimal places.) c. What is its net working capital? d. What is its current ratio? (Round your answer to 2 decimal places.) Current liabilities Long-term debt Other liabilities Equity $ 65 275 80 200 $ 620
- Consider this simplified balance sheet for Geomorph Trading: Current assets Long-term assets $ 245 Current liabilities Long-term debt 630 Other liabilities Equity $ 875 Required: a. What is the company's debt-equity ratio? (Hint: debt = Current liabilities, Long-term debt, and Other liabilities) Note: Round your answer to 2 decimal places. b. What is the ratio of total long-term debt to total long-term capital? Note: Round your answer to 2 decimal places. c. What is its net working capital? d. What is its current ratio? Note: Round your answer to 2 decimal places. $ 170 215 140 350 $ 875 a Debt-equity ratio b. Long-term debt-to-capital ratio c. Net working capital d. Current ratioGeneral FinanceGive true solution for this accounting question
- Find BEP.Ratios Analyses: McCormick Refer to the information for McCormick above. Additional information for 20X3 it as follows (amounts in millions): Required: Next Level Compute the following for 20X3. Provide a brief description of what each ratio reveals about McCormick 1. return on common equity 2. debt-to-assets 3. debt-toequity 4. current 5. quick (McCormick uses cash and equivalents, short-term securities and receivables in their quick ratio calculation.) 6. inventory turnover days 7. accounts receivable turnover days 8. accounts payable turnover days 9. operating cycle (in days) 10. total asset turnover Use the following information for 14-17 and 14-18: The Hershey Company is one of the worlds leading producers of chocolates, candies, and confections. It sells chocolates and candies, mints and gums, baking ingredients, toppings, and beverages. Hersheys consolidated balance sheets for 20X2 and 20X3 follow.Exercise n°6. Consider this simplified balance sheet for Geomorph Trading: Current liabilities Long-term debt Other liabilities Equity Current assets $ 100 $ 60 Long-term assets 500 280 70 190 $ 600 $ 600 a. Calculate the ratio of debt to equity. (Round your answer to 2 decimal places.) b-1. What are Geomorph's net working capital and total long- term capital? b-2. Calculate the ratio of debt to total long-term capital. (Round your answer to 2 decimal places.) Exercise n°7. Magic Flutes has total receivables of $3,000, which represent 20 days' sales. Total assets are $75,000. The firm's operating profit margin is 5%. Assume a 365-day year. 3/4 a. What is the firm's sales-to-assets ratio? (Round your answer to 2 decimal places.) b. What is the firm's return on assets? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Exercise n°8. a. If a firm's assets of $10,000 represent 200 days' sales, what is its annual sales? Assume a 365-day…
- The following data apply to the next six problems. Consider Fisher & Company's financial data as follows (unit: millions of dollars except ratio figures):Cash and marketable securities $100Fixed assets $280Sales $1,200Net income $358Inventory $180Current ratio 3.2Average collection period 45 daysAverage common equity $500 Calculate the amount of the long-term debt.(a) $134 (b) $500(c) $74 (d) $208Calculate the following for Co. XYZ: c. Average collection period (365 days) d. Times interest earned Assets: Cash and marketable securities $400,000Accounts receivable 1,415,000Inventories 1,847,500Prepaid expenses 24,000Total current assets $3,686,500Fixed assets 2,800,000Less: accumulated depreciation 1,087,500Net fixed assets $1,712,500Total assets $5,399,000Liabilities: Accounts payable $600,000Notes payable 875,000Accrued taxes Total current liabilities $1,567,000Long-term debt 900,000Owner's equity Total liabilities and owner's equity Co. XYZ Income Statement: Net sales (all credit) $6,375,000Less: Cost of goods sold 4,375,000Selling and administrative expense 1,000,500Depreciation expense 135,000Interest expense Earnings before taxes $765,000Income taxes Net income Common stock dividends $230,000Change in retained earningsCullumber company has these comparative balance sheet data: