Current Position AnalysisThe following data were taken from the balance sheet of Albertini Company at the end of two recent fiscal years:Previous YearCurrent assets:CashMarketable securitiesAccounts and notes receivable (net)InventoriesPrepaid expenses.Total current assets.Current liabilities:Accounts and notes payable(short-term)Accrued liabilitiesTotal current liabilities1. Working capital2. Current ratio:Current Year3. Quick ratiob. The liquidity of Albertini has$356,400412,700168,9001,547,700797,300$3,283,000$388,600281,400$670,000$278,400313,200104,4001,167,500746,500$2,610,000a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place.Current YearPrevious Year$406,000174,000$580,000from the preceding year to the current year. The working capital, current ratio, and quick ratio have allin current assets relative to current liabilities.Most of these changes are the result of an [

Working capital is the amount of capital that is being to fund the day to day activities of the…

The following data were taken from the balance sheet of Albertini Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities 1. Working capital 2. Current ratio $356,400 412,700 168,900 1,547,700 797,300 $3,283,000 3. Quick ratio b. The liquidity of Albertini has $388,600 281,400 $670,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year Previous Year $278,400 313,200 104,400 1,167,500 746,500 $2,610,000 $406,000 174,000 $580,000 Most of these changes are the result of an from the preceding year to the current year. The working capital, current ratio, and quick ratio have all in current assets relative to current liabilities.

The following data were taken from the balance sheet of Albertini Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash Marketable securities Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Current liabilities: Accounts and notes payable (short-term) Accrued liabilities Total current liabilities 1. Working capital 2. Current ratio $356,400 412,700 168,900 1,547,700 797,300 $3,283,000 3. Quick ratio b. The liquidity of Albertini has $388,600 281,400 $670,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year Previous Year $278,400 313,200 104,400 1,167,500 746,500 $2,610,000 $406,000 174,000 $580,000 Most of these changes are the result of an from the preceding year to the current year. The working capital, current ratio, and quick ratio have all in current assets relative to current liabilities.

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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