Morris Corporation has current liabilities of $800 million, and its current ratio is 2.5. What is its

Question:

Morris Corporation has current liabilities of $800 million, and its current ratio is 2.5. What is its level of current assets? ($2,000 million) If this firm’s quick ratio is 2, how much inventory does it have?

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

Step by Step Answer:

Related Book For answer-question

Intermediate Financial Management

ISBN: 9781337395083

13th Edition

Authors: Eugene F. Brigham, Phillip R. Daves

See More Books

Question Posted: Mar 10, 2024 12:00 AM

See More 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...
1.A firm has net working capital of $1,100 and current liabilities of $2,800. What is the current ratio? .98 2.56 .39 .72 1.39 Question 2 1.Top Sound, Inc., has total assets of $212,000, a...
Ques 1: What is the major complaint by firms concerning the Sarbanes-Oxley act of 2012? A. the legislative maximum allowable compensation for a CEO. B. the legal requirement to disclose project...
Over the last few years, we have started to see some retailers open earlier and earlier on Thanksgiving Day. Others have taken a different approach and decide to remain closed. Is it a good strategy...
Suppose two batteries, with unequal emfs of 2.00 V and 3.00V, are connected as shown in Fig. 19-62. If each internal resistance is r = 0.350 and R = 4.00 , what is the voltage across the resistor R?
(a) Consider a gaseous system of $N$ noninteracting, diatomic molecules, each having an electric dipole moment $\mu$, placed in an external electric field of strength $E$. The energy of such a...
In 2013, Thomas DePrince, a passenger aboard a cruise ship, visited the ships jewelry boutique, operated by Starboard Cruise Services, Inc. DePrince told the employees of the boutique that he was...
The manager of the Excom Service Station wants to forecast the demand for unleaded gasoline next month so that the proper number of gallons can be ordered from the distributor. The owner has...
A firm selling a normal good has a price elasticity of demand coefficient of 3.0 and an income elasticity of demand coefficient of 2.2. Assume that economists forecast a recession within the next...
Identify four ratios that measure how effectively a firm is managing its assets, and write out their equations.
A company has the following information on its balance sheets: Cash = $40, accounts receivable = $30, inventories = $100, net fixed assets = $500, accounts payable = $20, accruals = $10, short term...
Calculate the pH during the titration of 30.00 mL of 0.150 M benzoic acid with 0.150 M NaOH after 0, 10.00, 30.00, and 40.00 mL of base have been added. Sketch the titration curve, and label the four...
You are sitting in your car at rest at a traffic light with a bicyclist at rest next to you in the adjoining bicycle lane. As soon as the traffic light turns green, your car speeds up from rest to...
Given the information below for HooYah! Corporation, compute the expected share price at the end of 2020 using price ratio analysis. Assume that the historical (arithmetic) average growth rates will...
Based on the following information for a call option on a stock, S=$90 X=$80 RF =.05 T=3 months 6.20 What is the call premium based on the Black/Scholes model?
P11. Two small balls, each of mass 0.92 g, are attached to silk threads 50 cm long, which are in turn tied to the same point on the ceiling. When the balls are given the same charge Q, the threads...
Identify some ethical situations employees might encounter in the workplace. Discuss the situation and identify steps employees can take to make the best "ethical" decision possible. must be written...
The maximum allowable value of each of the reactions is 360N. Neglecting the weight of the beam, determine the range of values of the distance d for which the beam is safe. 300 N 200 N 100 N 900 mm...
Global.asax is used for: a. declare application variables O b. all other answers are wrong O c. declare global variables O d. handle application events
Snider Industries sells on terms of 2/10, net 45. Total sales for the year are $1,500,000. Thirty percent of customers pay on the 10th day and take discounts; the other 70% pay, on average, 50 days...
Rework parts a through d of Problem 22-9 using a spreadsheet model. Answer the following questions: a. How large would the accounts payable balance be if Malone takes discounts? If it does not take...
a. Assume that, on average, the brothers expect annual sales of 18,000 items at an average price of $100 per item. (use a 365 day year.) (1) What is the firm's expected days sales outstanding (DSO)?...
For your compaction project, you are using a 6-foot wide roller that averages 4.5 mph. Your lift thickness is 12 inches, and you are using an efficiency of 50 minutes per hour. If you estimate that...
Your friend, Suzie Chang, has designed a new type of outdoor toy that helps children learn basic concepts such as colors, numbers, and shapes. Suzie's product will target two groups: day care centers...
In year 1, If FPI logged 4,250 trees (1,062,500 board feet) and they sold 985,000 board feet, then what amounts should appear on their balance sheet for 'Natural Resources - Timberlands' and how much...

Morris Corporation has current liabilities of $800 million, and its current ratio is 2.5. What is its

Question:

Step by Step Answer:

To calculate the level of current assets we can use the current ratio formula Curr...View the full answer

Intermediate Financial Management

Students also viewed these Business questions