Consider the following data: Requirements 1. Calculate the quick assets and the quick ratio for each company
Question:
Consider the following data:
Requirements
1. Calculate the quick assets and the quick ratio for each company (round your final answer to two decimal places).
2. Calculate the current ratio for each company (round your final answer to two decimal places).
3. Which of the companies should be concerned about its liquidity?
Transcribed Image Text:
B COMPANY A $ 1,800 1,200 5,400 9,300 10,200 4,500 37,000 $ 8,700 6,700 13,400 31,800 20,100 Cash.. Short-term Investments.. Net Receivables. $ 6,600 3,100 11,000 26,900 $ 10,300 4,900 13,500 32,400 Total current assets . Current Liabilities..
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 63% (11 reviews)
Req 1 A B C D Cash 8700 6600 1800 10300 Shortterm in...View the full answer
Answered By
Mamba Dedan
I am a computer scientist specializing in database management, OS, networking, and software development. I have a knack for database work, Operating systems, networking, and programming, I can give you the best solution on this without any hesitation. I have a knack in software development with key skills in UML diagrams, storyboarding, code development, software testing and implementation on several platforms.
4.90+
67+ Reviews
156+ Question Solved
Related Book For
Question Posted:
Students also viewed these Managerial Accounting questions
-
Calculate the quick assets and the quick ratio for each of the followingcompanies: Rhodes Peters Cash Short-term Investments.... Net Receivables Current Liabilities ....$15,000 23,000 6,00013,000...
-
Calculate the quick assets and the quick ratio for each of the following companies: Jaxon Kilborn $10,000 25,000 5,000 15,000 45,000 52,000 45,000 100,000 Cash.. Net Receivab... Current Liabilities.
-
Consider the following data for two variables, x and y. a. Develop an estimated regression equation for the data of the form y-bar = b0 + b1x. b. Use the results from part (a) to test for a...
-
Our thoughts return to Ambrose and his nuts and berries. Ambroses utility function is U(x1, x2) = 4x1 + x2, where x1 is his consumption of nuts and x2 is his consumption of berries. (a) Let us find...
-
Find the steady-state current in the RLC-circuit in Fig. 60 on p. 92 for the given data. (Show the details of your work. R = 8 ?, L = 0.5 H, C = 0.1 F, E = 100 sin 2tV www R C E(t) = Esin oot
-
How does contemporary queer theory interrogate traditional notions of gender and sexuality in literature, and what impact does this have on the re-evaluation of classic texts and the emergence of new...
-
Carry out a pre-posterior analysis and find the expected value of perfect information (EVPI).
-
Tiet Manufacturing uses a job order cost accounting system. On May 1, the company has a balance in Work in Process Inventory of $3,200 and two jobs in process: Job No. 429 $ 2,000, and Job No. 430...
-
Educational Philosophy 10 points Write a brief paper that presents your philosophy on the education of students with disabilities (i.e., your thoughts about access and inclusion in public schools,...
-
1. These examples show people at different stages of their professional lives choosing to become business owners with the help of a franchise. What conclusions can you draw from their stories about...
-
Valley Hardware Supply, Inc., sells on account. When a customer account becomes four months old, Valley Hardware Supply converts the account to a note receivable. During 2016, Valley Hardware Supply...
-
Lakota Equipment reported the following items on December 31, 2016 (last year's amounts also given as needed): Requirements 1. Compute Lakota Equipments (a) quick ratio, (b) current ratio, and (c)...
-
See Figure P122. The shaft rotating at 200 rpm carries a 6-in-diameter chain sprocket D that delivers 4 hp to a mating sprocket above. Compute the torque delivered by the shaft to sprocket D and the...
-
Draw a stem-and-leaf plot for each data set in Problems 28-31. Data set B Data set A: The annual wages of employees at a small accounting firm are given in thousands of dollars. 35 25 25 16 14 1 2 2...
-
What is meant by a size threshold?
-
Since most externally reported financial statements are required to be in accordance with GAAP, how can the existence of specific objectives of financial reporting affect the preparation of the...
-
Why would management adopt an earnings maximization objective?
-
What are some practical methods for bringing about behavior change, both in ourselves and in others?
-
What does customer service mean to you?
-
Explain why each of the following is either a private good or a public good: traffic lights, in line skates, a city park, a chicken salad sandwich, a tennis racket, national defense, a coastal...
-
Wilsons Auto Repair ended 2017 with Accounts Receivable of $85,000 and a credit balance of $11,000 in Allowance for Uncollectible Accounts. During 2018, Wilsons Auto Repair had the following...
-
During its first year of operations, World Wide Travel earned revenue of $620,000 on account. Industry experience suggests that World Wide Travels uncollectible accounts will amount to 3 percent of...
-
Prepare the current assets section of the balance sheet as of May 31, 2018, for Spices and More, Inc., using the following information: Accounts Receivable...
-
Alice is single and self-employed in 2023. Her net business profit on her Schedule C for the year is $192,800. What are her self-employment tax liability and additional Medicare tax liability for...
-
D.L. Ko and Company, a manufacturer of quality handmade walnut bowls, has had a steady growth in sales for the past 5 years. However, increased competition has led Mr. Ko, the president, to believe...
-
McCullough Hospital uses a job-order costing system to assign costs to its patients. Its direct materials include a variety of items such as pharmaceutical drugs, heart valves, artificial hips, and...
Study smarter with the SolutionInn App