Ronca Company reported current liabilities of $ 720,000 and a current ratio of 1.2. What were current

Question:

Ronca Company reported current liabilities of $ 720,000 and a current ratio of 1.2. What were current assets?

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

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting: A Business Process Approach

ISBN: 978-0136115274

3rd edition

Authors: Jane L. Reimers

See More Books

Question Posted: Sep 01, 2014 12:54 PM

See More Questions

Current Assets 2000 2001 Cash 200 1 000 Accounts receivable 1 600 1 000 Inventory 2 200 2 600 TOTAL CURRENT ASSETS 4 000 4 600 Gross Fixed Assets 12 000 12 400 Less Accum Depreciation 6 000
Current assets and current liabilities for HQ Properties Company follow: a. Determine the working capital and current ratio for 2019 and 2018. b. Does the change in the current ratio from 2018 to...
Current assets and current liabilities for Brimstone Company follow: a. Determine the working capital and current ratio for 2019 and 2018. b. Does the change in the current ratio from 2018 to 2019...
A group of fraud examiners is coordinating an investigation at a local law firm. Several lawyers at the firm are suspected of overbilling clients, possibly creating fake client accounts, and then...
A catchment is to be simulated using the Clerk model, that is, by routing using a time-area method (to produce hydrograph time delays), followed by routing through a linear reservoir (to produce...
The time between events in SOCmodels is typically exponentially distributed, indicating no correlations between events. This is often in contrast to observed behaviour. Solar flares is an example of...
A particular cyclist can produce an average power output of $180 \mathrm{~W}$ when cycling on level ground. While doing this, their speed is $9.5 \mathrm{~m} / \mathrm{s}$. What is the magnitude...
LRF Printing provides printing services to many different corporate clients. Although LRF bids most jobs, some jobs, particularly new ones, are negotiated on a cost-plus basis. Cost-plus means that...
123456789 10 What is the need of MIS? What are the objectives of MRP? JIT introduced in which country? Advantages of TQM. Discuss about six sigma. Define various levels of CMM. What is mean by supply...
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
Perform a vertical analysis on the following income statement, with sales as the base amount: Sales............ $ 35,000 Cost of goods sold ........14,000 Gross margin ..........21,000 Other...
The following is a five- year comparative analysis of Accent Companys return on assets and return on equity: 1. What does this analysis tell you about the overall profitability of Accent Company over...
The Colosseum in Rome is in the shape of an ellipse 188 m long and 156 m wide. Find the area of the Colosseum. (A = ab for an ellipse.)
The number of civilians holding government jobs in various federal departments and their monthly payrolls for a certain month are given below. Department: Department of Education Number of Civilian...
Consider the following situation. Engineers working for the government of Mexico have recently discovered an offshore area potentially rich in oil and gas. To raise revenue, the Mexican government...
Spiritual Intercessors Ministry ( SIM ) Ltd sells A 4 sheets which are received from the wholesaler at different prices. The company issues the A 4 sheets directly from stores to customers. The...
Every year, Americans celebrate "Tax Freedom Day." Computed by the tax foundation, tax freedom day represents the date on which the average taxpayer has paid off his or her taxes for the year. It is...
Cash balance per bank $4,440.20 Add: NSF check 250.00 Less: Bank service charge Adjusted balance per bank 33.00 $4,657.20 I Cash balance per books $4.755.20 Less: Deposits in transit 970.00 Add:...
Calculate the approximate number of atoms in a bacterium. Assume that the average mass of an atom in the bacterium is ten times the mass of a hydrogen atom.
Smiths Family Fashions implemented a balanced scorecard performance measurement system several years ago. Smiths is a locally owned clothing retailer with fashions for men, women, teens, and...
Assume that the mayors office and the police department were billed $55,000 for data processing work during the year ended June 30, 20X7. What account in the general fund should be debited to record...
Define a regular expression for validating each of the following: a. A U.S. zip code, which must have five digits, followed by an optional hyphen and four digits. b. A telephone number in the format...
For the following codes, define the validation criteria (there may be multiple checks for each field) and the order that you would test each of the conditions. a. A credit card number entered on a...
Tuesday afternoon finds Anna and Chip having their weekly analysis and design review session. Chip waves toward a large stack of documents that are neatly organized on a large table. I cant believe...
During 2020, Nike disposed of a machine that had been acquired on January 1, 2014 for a purchase price of $20 million. The machine was being depreciated using the straight-line method, a $4 million...
LeBlanc Corp. uses the periodic inventory system and has the following selected information available at its 12/31/X4 year-end: Description Amount Inventory at 1/1/X4 $ 20,000 Inventory at 12/31/X4...
Yale Company acquires all of Zip Company's assets and liabilities for $20 million in cash. Zip's reported net assets total $4 million, it has previously unreported identifiable intangible assets of...

Ronca Company reported current liabilities of $ 720,000 and a current ratio of 1.2. What were current

Question:

Step by Step Answer:

Current assets Cur...View the full answer

Financial Accounting: A Business Process Approach

Students also viewed these Accounting questions