The following items are reported on a companys balance sheet: Cash ...........$130,000 Marketable securities ..... 50,000 Accounts
Question:
The following items are reported on a company’s balance sheet:
Cash ...........$130,000
Marketable securities ..... 50,000
Accounts receivable (net) ... 60,000
Inventory .......... 120,000
Accounts payable ...... 150,000
Determine
(a) The current ratio
(b) The quick ratio. Round to one decimal place.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 60% (10 reviews)
a Current Ratio Current Assets Current Liabilit...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
Question Posted:
Students also viewed these Managerial Accounting questions
-
The following items are reported on a companys balance sheet: Cash $140,000 Temporary investments 60,000 Accounts receivable (net) 40,000 Inventory 80,000 Accounts payable 160,000 Determine (a) The...
-
The following items are reported on the first income tax return for the Ken Kimble Estate. Mr. Kimble, a cash method of accounting taxpayer, died on July 1, 2013. Dividends...
-
The following items are reported on the first income tax return for the Ken Kimble Estate. Mr. Kimble, a cash method of accounting taxpayer, died on July 1, 2014. Dividends...
-
Write a filter InfixToPostfix that converts an arithmetic expression from infix to postfix.
-
The following electron configurations represent excited states. Identify the element, and write its ground-state condensed electron configuration. (a) 1s2 2s2 3p2 4p1, (b) [Ar] 3d10 4s1 4p4 5s1, (c)...
-
In Exercises find all points (if any) of horizontal and vertical tangency to the curve. Use a graphing utility to confirm your results. x = sec , y = tan
-
Why is the concept of an ongoing concern important to the interpretation of financial statements?
-
The Wall Street Journal reported that automobile crashes cost the United States $162 billion annually (The Wall Street Journal, March 5, 2008). The average cost per person for crashes in the Tampa,...
-
Aaron, Inc. loans Baker Company $ 4 5 , 0 0 0 on an 8 % note receivable due in six months. When Aaron is repaid, what is the total amount received?
-
Mr B aged 52 years, has earned rupees 75,00,000 out of his business. His ex-wife gifted him a car worth rupees 8 lakh. He spent a total of rupees 20 lakh during a family trip. He won a lottery of 16...
-
Income statement information for Einsworth Corporation is provided below. Sales ..........$1,200,000 Cost of goods sold..... 780,000 Gross profit........ 420,000 Prepare a vertical analysis of the...
-
The following items are reported on a companys balance sheet: Cash ...............$210,000 Marketable securities........ 120,000 Accounts receivable (net) ....... 110,000 Inventory ...............
-
How might centralization or decentralization affect the job characteristics specified in job design?
-
1. Polyacetylene is one of the first 'conjugated' polymers that was prepared. In this case, the monomer for the polymer is acetylene. Thus the repeating unit (the structure in the parenthesis in a...
-
2 A+3B--> 4 D substance AHO (kJ/mol) Calculate the AHf of B. AHrxn = 250 kJ A -436.5 D -810.0
-
The reaction A(aq) + B(aq) Products(aq) was studied, and the following data were obtained: [A]o (mol/L) 0.24 0.12 0.060 0.48 0.36 Submit 0.24 0.18 0.18 [B], (mol/L) The rate constant for the reaction...
-
Interactive Activity - Uncertainty in Measurement You are given a series of mathematical operations to perform and make a table including the calculated value as displayed on your calculator:...
-
12. Use the following table to answer the question below. Your answer should include at least 4 complete sentences. The equation showing the structural formulae of the reactants and products is NEN...
-
Write the name and structure of the benzene derivatives described below. (a) Formula: C 8 H 10 ; forms three monochlorination products when treated with Cl 2 and FeCl 3 ; (b) Formula: C 9 H 12 ;...
-
State whether each statement is true or false. If false, give a reason. {purple, green, yellow} = {green, pink, yellow}
-
Ones collection of psychological attributes, such as motivation, empathy, self-awareness, and social skills is known as __________. A. emotional intelligence B. leadership traits C. leadership style...
-
On April 1, 20Y1, Whitney Lang and Eli Capri form a partnership. Lang agrees to invest $18,000 cash and merchandise inventory valued at $50,000. Capri invests certain business assets at valuations...
-
The ledger of Camila Ramirez and Ping Xue, attorneys-at-law, contains the following accounts and balances after adjustments have been recorded on December 31, 20Y2: Ramirez and Xue Trial Balance...
-
Holly Renfro contributed a patent, accounts receivable, and $20,000 cash to a partnership. The patent had a book value of $8,000. However, the technology covered by the patent appeared to have...
-
Explain possible advantages and disadvantages of PSL's current international trading strategy (subsidiary in China, export & import and online presence).
-
In November 2020 you entered into four May 2021 long futures contracts for crude oil (1,000 barrels per contract) for $65.00 per barrel. If the futures price was $70.00 per barrel on December 31,...
-
4) Champagne, Inc., had revenues of $13 million, cash operating expenses of $9 million, and depreciation and amortization of $2 million during 2008. The firm purchased $650,000 of equipment during...
Study smarter with the SolutionInn App