The current ratio of a company is 8:1 and its acid-test ratio is 1:1. If the inventories and prepaid items amount to $633,000, what is the amount of current liabilities?
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- provide correct answer. sub. general account.The current ratio of a company is 8:1 and its acid-test ratio is 1:1. If the inventories and prepaid items amount to $633,000, what is the amount of current liabilities?(accounting Problem)The current ratio of a company is 5:1, and its acid-test ratio is 2:1. If the inventories and prepaid items amount to $450,000, what is the amount of current liabilities? Answer this financial accounting problem. Ans
- What is the amount of current liabilities ?Answer 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?What is the amount of current liabilities on these general accounting question?
- What is the amount of current liabilities on these general accounting question?Answer this financial accounting problem?Compute the current ratio and acid-test ratio for each of the following separate cases. (Round ratios to two decimals.) Which company situation is in the best position to meet short-term obligations? Explain.
- a company has current assets of $87,000 (of which $43,000 is inventory and prepaid items) and current liabilities of $43,000. What is the current ratio? What is the acid-test ratio? If the company borrows $14,000 cash from a bank on a 120-day loan, what will its current ratio be? What will the acid-test ratio be? Current Ratio enter the ratio rounded to 2 decimal places :1 Acid Test Ratio enter the ratio rounded to 2 decimal places :1 New Current Ratio enter the ratio rounded to 2 decimal places :1 New Acid Test Ratio enter the ratio rounded to 2 decimal places :1A company's interest expense is $8,000. Its income before interest expense and income taxes is $32,000. Its net income is $9,600. The company's times interest earned ratio equals: Select one: Oa. 0.25. O b. 0.30. O c. 0.83. O d. 3.33. O e. 4.0.-What is XYZ's current ratio on December 31, 2021? -What is XYZ's Accounts Receivables Turnover for 2021? (assume Accounts Receivable, net was $500,000 on December 31, 2020) -What is XYZ's Asset Turnover for 2021? (assume total assets were $14 million on December 31, 2020) Account Balance Data Debit Credit Cash 217,650 Accounts Receivable 545,000 Interest Receivable 1,200 Allowance for Doubtful Accounts 8,450 Merchandise Inventory 778,000 Prepaid Insurance 30,000 Notes Receivable Land 2,000,000 Office Building 4,000,000 Office Equipment 320,000 Store Building 9,000,000 Store Equipment 3,560,000 Accumulated Depreciation - office building and equipment 1,580,000 Accumulated Depreciation - store building and equipment 4,126,000 Goodwill 700,000