A company has current assets of $155,900 and total assets of $378,000. Current liabilities are $121,500, and
Question:
Required
Calculate the company's current ratio and briefly explain the result.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 46% (15 reviews)
155900 121500 128 The current ratio c...View the full answer
Answered By
Susan Juma
I'm available and reachable 24/7. I have high experience in helping students with their assignments, proposals, and dissertations. Most importantly, I'm a professional accountant and I can handle all kinds of accounting and finance problems.
4.40+
15+ Reviews
45+ Question Solved
Related Book For
Question Posted:
Students also viewed these Corporate Finance questions
-
A company has current liabilities of $500 Million, and its current ratio is 2.0. 1. What is the total of its current assets? 2. If the firms quick ratio is 1.6, how much inventory does it have? A...
-
The Nelson Sheetmetal Company has current assets of $2.5 million and current liabilities of $1.0 million. The firm is in need of additional inventory and has an opportunity to borrow money on a...
-
A company has current assets that total $ 500,000, has a current ratio of 2.00, and uses the perpetual inventory method. Assume that the following transactions are then completed: (1) sold $ 12,000...
-
Let n=102 +r, where , re N, 0r9. A number a is chosen at random from the set {1, 2, 3, ..., n} and let pn denote the probability that (a 1) is divisible by 10. 70. If r = 0, then npn equals (a) 22...
-
It has been said that incentive plans work only for a relatively short time. Do you agree or disagree? Why?
-
In order to provide effective strategic leadership through a change process there are certain activities and actions that are required of you. Please discuss each of the below questions in detail:...
-
Discuss the importance of communication in managing a technology change. What roadblocks might an organization face if it fails to create a good communication plan?
-
Here is the ledger for Stampfer Co. Instructions(a) Reproduce the journal entries for only the transactions that occurred on October 1,10, and 20, and provide explanations for each.(b) Prepare a...
-
1. Do you believe that Porshe's management is appropriately concerned with shareholder wealth? Does Porsche's ownership structure work to the benefit or detriment of public shareholders?
-
After 50 years at its present location, Whittier County Hospital is preparing to move into a new building sometime in the near future, when construction and outfitting are completed. The hospital's...
-
During 2012, Blue Corporation produced net income of $1,550,000. The average number of shares of common stock outstanding for the year was 498,000. Required Calculate Blue's earnings per share for...
-
In 2012, Ralph's Rug Outlet generated net sales of $1,250,000 and cost of goods sold of $723,000. Ralph's average inventory of rugs during the year was $95,300. Required Calculate Ralph's inventory...
-
What are the phases in a traditional project life cycle? How does a project life cycle differ from a product life cycle? Why does a project manager need to understand both?
-
1. What is the biggest difference between the taxation of ordinary income and capital gains? 2. What are the tax benefits related to wealth transfers? Include any limitations or thresholds in your...
-
Prepare the journal entries for the following transactions: Clearly indicate what is a DR and what is a CR. When identifying the account, put in brackets an (A) for an asset, (L) for liability, and...
-
What would happen if you had no disposable income? Explain
-
what is a response to a peer, In one of my previous jobs, I owned almost 20 shares of the company, and I would get extra money on my paychecks occasionally. Since I got a job at Google, I have been...
-
Given the function g(y) = 3y + 11y, solve for g(y) = 4. Give an exact answer; do not round. (Use a comma to separate multiple solutions.) Provide your answer below: y =
-
In Problems 13 through 20, a third-order homogeneous linear equation and three linearly independent solutions are given. Find a particular solution satisfying the given initial conditions. y (3)-3y"...
-
On January 2, 20X3, Sheldon Bass, a professional engineer, moved from Calgary to Edmonton to commence employment with Acco Ltd., a large public corporation. Because of his new employment contract,...
-
The statement of comprehensive income of Bottom, a manufacturing company, for the year ending 31 January 20X2 is as follows: Bottom $000 Revenue ......... 75,000 Cost of sales ...... (38,000) Gross...
-
Agriculture is a key business activity in many parts of the world, particularly in developing countries. Following extensive discussions with, and funding from, the World Bank, the International...
-
MACTAR have a series of contracts to resurface sections of motor ways. The scale of the contract means several years work and each motor way section is regarded as a separate contract. Required: From...
-
Wanda is reviewing her tax returns from the previous year and is shocked at how much tax she paid the government. She had good income but had to pay a large number of self-employment taxes on top of...
-
Katies Cleaning Service has cleaning contracts for 15 apartments, 45 family homes, and 25 office buildings. She estimates that an apartment takes 4 hours to clean, a home takes 6 hours to clean, and...
-
1. Quikpak sells returnable containers to major food processors. The price received for the containers is 2 per unit. Of this amount 1.25 is profit contribution. Quikpak is considering an attempt to...
Study smarter with the SolutionInn App