The following data were abstracted from the 2014 December 31, balance sheet of Andrews Company: - Cash $136,000 Marketable securities $64,000 Accounts and notes receivable, net $184,000 Merchandise inventory $244,000 N Prepaid expenses $12,000 Accounts and notes payable, short-term $256,000 Short-term accrued liabilities Bonds payable, long-term The acid-test ratio is: a. 1.2:1. b. 3:1. C. 2:1. d. 1:2. $64,000 $400,000

The following data were abstracted from the 2014 December 31, balance sheet of Andrews Company: - Cash $136,000 Marketable securities $64,000 Accounts and notes receivable, net $184,000 Merchandise inventory $244,000 N Prepaid expenses $12,000 Accounts and notes payable, short-term $256,000 Short-term accrued liabilities Bonds payable, long-term The acid-test ratio is: a. 1.2:1. b. 3:1. C. 2:1. d. 1:2. $64,000 $400,000

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 50E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Required: Note: Round answers to two decimal places. 1. Calculate the times-interest-earned ratio. 2. Calculate the debt ratio. 3. Calculate the debt-to-equity ratio.
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Following is the balance sheet for 3M Company. At December 31 2015 2014 Cash and cash equivalents $ 1,798 $ 1,897 Marketable securities-current 118 1,439 Accounts receivable, net 4,154 4,238 Inventories 3,518 3,706 Other current assets 1,398 1,023 Total current assets 10,986 12,303 Marketable securities-noncurrent 126 117 Property, plant and equipment--net 8,515 8,489 Goodwill 9,249 7,050 Intangible assets-net 2,601 1,435 Prepaid pension benefits 188 46 1,053 $32,718 1,769 $31,209 Other assets Total assets $ $ Short-term debt & current portion of LT debt Accounts payable 2,044 106 1,694 1,807 Accrued payroll 644 732 Accrued income taxes 332 435 Other current liabilities 2,404 2,884 Total current liabilities 7,118 5,964 Long-term debt 8,753 6,705 Pension and postretirement benefits 3,520 3,843 Other liabilities 1,580 1,555 Total liabilities 20,971 18,067 3M Company shareholders' equity: Common stock 9. Additional paid-in capital Retained earnings 4,791 4,379 36,575 34,317 Treasury stock…
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