The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $570,000 $442,000 Marketable securities 660,000 497,300 Accounts and notes receivable (net) 270,000 165,700 Inventories 1,485,000 1,110,200 Prepaid expenses 765,000 709,800 Total current assets $3,750,000 $2,925,000 Current liabilities: Accounts and notes payable (short-term) $435,000 $455,000 Accrued liabilities 315,000 195,000 Total current liabilities $750,000 $650,000 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 1. Working capital 2. Current ratio 3. Quick ratio b. The liquidity of Nilo has from the preceding year to the current year. The working capital, current ratio, and quick ratio have all v . Most of these changes are the result of an in current assets relative to current liabilities.

The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $570,000 $442,000 Marketable securities 660,000 497,300 Accounts and notes receivable (net) 270,000 165,700 Inventories 1,485,000 1,110,200 Prepaid expenses 765,000 709,800 Total current assets $3,750,000 $2,925,000 Current liabilities: Accounts and notes payable (short-term) $435,000 $455,000 Accrued liabilities 315,000 195,000 Total current liabilities $750,000 $650,000 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 1. Working capital 2. Current ratio 3. Quick ratio b. The liquidity of Nilo has from the preceding year to the current year. The working capital, current ratio, and quick ratio have all v . Most of these changes are the result of an in current assets relative to current liabilities.

Name: The following data were taken from the balance sheet of Nilo Company
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Description: The following data were taken from the balance sheet of Nilo Company at the end of tworecent fiscal years:Current YearPrevious YearCurrent assets:Cash$570,000$442,000Marketable securities660,000497,300Accounts and notes receivable (net)270,000165,70

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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