Homework Help is Here – Start Your Trial Now!
Business
Accounting
Which of the following formulas correctly calculates the current ratio for 2023? Hint: Remember that Excel uses the order of operations. PARENTHESES then EXPONENTS then MULTIPLICATION and DIVISION then ADDITION and SUBTRACTION. Use parentheses around any calculations in either the numerator or denominator. Multiple Choice:  =+B13+B14+B15/B19   =+(B13+B14+B15)/B19   =+(B13+B14)/B19   =+(B13+B14+B15)/(B19+B20)

Which of the following formulas correctly calculates the current ratio for 2023? Hint: Remember that Excel uses the order of operations. PARENTHESES then EXPONENTS then MULTIPLICATION and DIVISION then ADDITION and SUBTRACTION. Use parentheses around any calculations in either the numerator or denominator. Multiple Choice:  =+B13+B14+B15/B19   =+(B13+B14+B15)/B19   =+(B13+B14)/B19   =+(B13+B14+B15)/(B19+B20)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Which of the following formulas correctly calculates the current ratio for 2023? Hint: Remember that Excel uses the order of operations. PARENTHESES then EXPONENTS then MULTIPLICATION and DIVISION then ADDITION and SUBTRACTION. Use parentheses around any calculations in either the numerator or denominator. Multiple Choice: 

  • =+B13+B14+B15/B19

     

    =+(B13+B14+B15)/B19

     

    =+(B13+B14)/B19

     

    =+(B13+B14+B15)/(B19+B20)

1234 4 Net sales A 5 6 Gross margin Cost of goods sold 7 Operating expenses 8 Net income 9 10 11 12 13 Cash 14 Accounts receivable, net 15 Merchandise inventory 16 Plant assets, net 17 Total assets 18 19 Current liabilities 20 Long-term liabilities 21 Common stock 22 Retained earnings 23 Total liabilities and equity 24 D Comparative Income Statements For Years Ended December 31, 2023-2020 2022 2021 $284,000 $247,000 254,000 161,000 30,000 86,000 B 2023 $318,000 143,000 175.000 114,000 $61,000 C 2023 $56,000 89,000 36,000 130,000 $311,000 $43,000 100,000 30,000 138,000 $311,000 14,000 $16,000 Comparative Balance Sheets For Years Ended December 31, 2023-2020 2022 2021 $4,000 $30,000 80,000 69,000 89,000 40,000 120,000 100,000 $293,000 $239,000 39,000 $47,000 $76,000 110,000 30,000 77,000 $293,000 $48,000 100,000 30,000 61,000 $239,000 E 2020 $174,000 149,000 25,000 11,000 $14,000 2020 $18,000 49,000 52,000 90,000 $209,000 $45,000 120,000 30,000 14,000 $209,000
Transcribed Image Text:1234 4 Net sales A 5 6 Gross margin Cost of goods sold 7 Operating expenses 8 Net income 9 10 11 12 13 Cash 14 Accounts receivable, net 15 Merchandise inventory 16 Plant assets, net 17 Total assets 18 19 Current liabilities 20 Long-term liabilities 21 Common stock 22 Retained earnings 23 Total liabilities and equity 24 D Comparative Income Statements For Years Ended December 31, 2023-2020 2022 2021 $284,000 $247,000 254,000 161,000 30,000 86,000 B 2023 $318,000 143,000 175.000 114,000 $61,000 C 2023 $56,000 89,000 36,000 130,000 $311,000 $43,000 100,000 30,000 138,000 $311,000 14,000 $16,000 Comparative Balance Sheets For Years Ended December 31, 2023-2020 2022 2021 $4,000 $30,000 80,000 69,000 89,000 40,000 120,000 100,000 $293,000 $239,000 39,000 $47,000 $76,000 110,000 30,000 77,000 $293,000 $48,000 100,000 30,000 61,000 $239,000 E 2020 $174,000 149,000 25,000 11,000 $14,000 2020 $18,000 49,000 52,000 90,000 $209,000 $45,000 120,000 30,000 14,000 $209,000
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Techniques of Time Value Of Money
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS