Please given correct answer general accounting Use the following information from ABC Corporation's balance sheet:Assets:•Cash: $8,500•Marketable securities: $4,300.Accounts receivable: $6,800.Inventory: $16,400•Property and equipment: $75,000Accumulated depreciation: ($8,000)Total assets: $103,000Liabilities and Stockholders' Equity:⚫ Accounts payable: $5,200••••Notes payable (current): $2,800Mortgage payable (long-term): $15,000Bonds payable (long-term): $25,000Common stock, $40 par: $30,000⚫ Paid-in capital in excess of par: $10,000⚫ Retained earnings: $15,000⚫ Total liabilities and stockholders' equity: $103,000The average number of common stock shares outstanding during the year was 750 shares.Net earnings for the year were $7,500.The current ratio is:A. 3.5B. 4.5C. 4.0D. 5.0

Step 1: Definition of Current RatioThe current ratio measures a company's ability to cover its…

Answered: Use the following information from ABC…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter15: Statement Of Cash Flows

Section: Chapter Questions

Problem 7DQ

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Following is the balance sheet of Thornton Company for Year 3: THORNTON COMPANY Balance sheet Assets Cash $ 15,050 Marketable securities Accounts receivable 8,380 Inventory Property and equipment Accumulated depreciation 13,340 11,050 165,500 (12,300) Total assets $201,020 Liabilities and Stockholders' Equity Accounts payable Current notes payable Mortgage payable Bonds payable $ 8,750 3,200 4,100 21,840 113,300 49,830 $201,020 Common stock Retained earnings Total liabilities and stockholders' equity The average number of common stock shares outstanding during Year 3 was 900 shares. Net income for the year was $15,300. Required Compute each of the following: (Round your answer to 2 decimal places. For percentages, 0.2345 should be entered as 23.45.) a. Current ratio 4.00 b. Earnings per share 2$ 17.00 per share c. Quick (acid-test) ratio 3.08 d. Return on investment % e. Return on equity f. Debt to equity ratio < Prev 6 of 6 Next MacBook Air 80 888 F2 F3 DII F4 FS F6 F8 F9 # $ & * 3 4…
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 earnings
What is the debit to asset 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
Please show calculation
Using the following balance sheet, calculate net working capital: Cash Marketable Securities Accounts receivable Inventory Current assets Net fixed assets Total assets Select one: O A. $60.00 O B. $40.00 O C. $10.00 O D. $90.00 $10 Accounts payable 30 Accruals 50 Notes payable 40 Current liabilities $130 Long-term debt 100 Common equity Retained earnings $230 Total liab. & equity $20 20 50 $90 0 30 50 $230
The account balances for KinderMorgan Account Title Balance Accounts Payable $8,990 Accounts Receivable, 1/1/22 4,455 Accumulated Depreciation 21,500 Building 65,000 Cash 10,300 45,000 Common Stock Delivery Truck Depreciation Expense Dividends 9,700 4.210 2,100 Marketable Equity Securities 3,400 Accounts Receivable, 12/31/22 5.250 Determine the Debt to Equity Ratio: 0.1114 0.1694 0.2101 0.1482 O 0.1783 are listed below. All balances are as of December 31, 2022, except where noted: Account Title Balance Inventory, 1/1/22 $2,040 Supplies 7,500 Salaries Expense 11,250 54,005 7,850 Retained Earnings, 1/1/22 23,480 Equipment 15,700 Prepaid Expenses 2,600 Cost of Goods Sold 16,350 Notes Payable (due 2024) 5.400 Inventory, 12/31/22 3,660 Net Revenue Rent Expense
The following information is for Rainbow National Bank: Report of Income $ Interest income 2,250.00 Interest expense 1,500.00 Total assets 45,000.00 Securities losses or gains 21.00 Earning assets 40,000.00 Total liabilities 38,000.00 Taxes paid 16.00 Shares of common stock outstanding 5,000 Noninterest income 800.00 Noninterest expense 900.00 Provision for loan losses 250.00 Please calculate: ROE --------- ROA --------- Net interest margin --------- Earnings per share --------- Net noninterest margin --------- Net operating margin --------- Alternative Scenarios: Suppose interest income, interest expenses, noninterest income, and noninterest expenses each increase by 3 percent while all other revenue and expense items shown in the preceding table remain unchanged. What will happen to Rainbow ROE,…
Consider 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?
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Consider this simplified balance sheet for Geomorph Trading: Current assets $ 120 Current liabilities $ 70 Long-term assets 520 Long-term debt 270 Other liabilities 90 Equity 210 $ 640 $ 640 Required: What is the company’s debt-equity ratio? Note: Round your answer to 2 decimal places.
Determine the amount of long-term debt for ABC Co. using the following balance sheet information: cash balance of $24,700, accounts payable of $96,526, common stock of $401,347, retained earnings of $501,930, inventory of $205,420, other assets equal to $77,911, net plant and equipment of $706,520, short-term notes payable of $30,000, and accounts receivable of $142,714. Long-Term Debt %24

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