Hummel Inc. has $30,000 in current assets and $15,000 in current liabilities. What is Hummels current ratio?

Question:

Hummel Inc. has $30,000 in current assets and $15,000 in current liabilities. What is Hummel’s current ratio?
a. 0.5
b. 1
c. 2
d. 3

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Cornerstones of Financial and Managerial Accounting

ISBN: 978-1111879044

2nd edition

Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen

See More Books

Question Posted: Sep 22, 2015 03:22 AM

See More Questions

Schuester Company has $40,000 in current liabilities, $20,000 in cash, and $25,000 in marketable securities. What Schuesters cash ratio? a. 1.125 b. 0.889 c. 1.6 d. 0.625
If Abrams Company has an inventory turnover of 7.3 and a receivables turnover of 9.6, approximately how long is its operating cycle? a. 72 days b. 88 days c. 95 days d. There is not enough...
The following items appear on the balance sheet of Figgins Company at the end of 2010 and 2011: Required: Between 2010 and 2011, indicate whether Figgins debt-to-equity ratio increased or decreased....
In the financial market, what causes a movement along the demand curve? What causes a shift in the demand curve?
Would you expect more reliable and better performing cars to cost more? Consumer Reports provided reliability ratings, overall road-test scores, and prices for affordable family sedans, midpriced...
Devise a ranking job evaluation system for the Hotel Pariss nonmanagerial employees (housekeepers, valets, front-desk clerks, phone operators, waitstaff, groundskeepers, and security guards) and use...
Explain how consent differs among competent patients, minors, guardians, and incompetent patients.
A partial list of Foothills Medical Center's costs follows: a. Cost of patient meals b. Nurses' salaries c. Depreciation of X-ray equipment d. Utility costs of the hospital e. Salary of intensive...
Tax Optimization Mastery This activity will provide practical insights into tax optimization, demonstrating the importance of the 6 2 5 1 form for individuals with specific income streams and...
SJ Corp. faces a seasonal increase for its working capital and needs the full use of Php 100,000 for 90 days. A factor will buy the companys receivables for an annual interest charge of 13%. The...
Partial information from Fabray Company's balance sheet is as follows: What is Fabray's current ratio? a. 0.25 b. 3.0 c. 1.8 d. 3.97 Current Assets: Current Liabilities: $ 750,000 9,750,000 6,250,000...
Multiple Choice Questions 1. Which of the following transactions could increase a firms current ratio? a. Purchase of inventory for cash b. Payment of accounts payable c. Collection of accounts...
How does the aggregate expenditure line determine the quantity of aggregate output demanded?
Should I deduct capital dividend received from investment from net income for tax purpose?
Writing Routine and Negative Letters You are the manager of Summer Dreams Caf and you need to respond to an angry Corporate customer, J H. Brown. Prepare a business response to the following, as...
Can you identify the implicit leverage in that organization? Most (not all) organizations have forms of leverage which are built in and which do not show up as debt on the balance sheet. Banks may...
Determine the smallest radius that should be used for a highway if the normal component of the acceleration of a car traveling at 45 mi/h is not to exceed 2.4 ft/s 2 .
Under IAS 10 Events After the Reporting Period, there are two categories of subsequent events. ABC Inc. is preparing its financial statements for the year ended October 31, Year 1. What is one of the...
Evaluate each expression in Exercises 5566, or indicate that the root is not a real number. (-3)4
Using a graphing utility, graph y = cot -1 x.
A mortgage company offers to lend you $85,000; the loan calls for payments of $8,273.59 per year for 30 years. What interest rate is the mortgage company charging you?
To complete your last year in business school and then go through law school, you will need $10,000 per year for 4 years, starting next year (that is, you will need to withdraw the first $10,000 one...
While Mary Corns was a student at the University of Tennessee, she borrowed $12,000 in student loans at an annual interest rate of 9 percent. If Mary repays $1,500 per year, how long, to the nearest...
Give a brief description of a product launch for any business firm/organization that you want to open or would want to work with in future. Provide at least two appropriate 'Call to Actions' for the...
Briefly explain the organizational pattern of a 'Feature Article'? Why is 'tension' so important in a Feature article?
Cemex has an enviable past, a struggling present and an uncertain future. The company boasts of a century-old history and has weathered many a storm in an unfriendly Mexican business environment....

Hummel Inc. has $30,000 in current assets and $15,000 in current liabilities. What is Hummels current ratio?

Question:

Step by Step Answer:

c Current Ratio Cu...View the full answer

Cornerstones of Financial and Managerial Accounting

Students also viewed these Managerial Accounting questions