Ben Williams Company reported these ratios at December 31, 2008 (dollar amounts in millions): Current ratio =
Question:
Ben Williams Company reported these ratios at December 31, 2008 (dollar amounts in millions):
Current ratio = $20/$10 = 2.00
Debt ratio = $20/$50 = 0.40
Ben Williams Company completed these transactions during 2009:
a. Purchased equipment on account, $4.
b. Paid long-term debt, $5.
c. Collected cash from customers in advance, $2.
d. Accrued interest expense, $1.
e. Made cash sales, $6.
Determine whether each transaction improved or hurt Williams' current ratio and debt ratio. Round all ratios to 2 decimal places.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 78% (14 reviews)
a Current ratio 2014 142 Debt ratio 2454 044 Both ratios are hurt b Current ratio 1510 ...View the full answer
Answered By
Daulat Daga
I began mentoring when I was in High school but that was just because, I love sharing my learnings. I continued doing that till graduation. During my graduation, I was part of the National Service Scheme (NSS) which facilitates and runs self-funded schools for underprivileged children in India. I learned the value of educating the needy ones and that was one of the best experiences of my mentoring. After Graduation, I joined TESCO as a Business Analyst. Being an engineer, I am quite good at Statistics so based on the evaluation I was given projects as well as business as usuals quite early. After a year, I was mentoring 40-50 people on Statistics and analytical techniques. Analytical techniques include prescriptive, predictive and descriptive analysis along with different models like Recency Frequency Monetary (RFM), Auto-Regressive Integrated Moving Average (ARIMA), Principle Component Analysis (PCA), etc. After completing the 4 months of intensive training, like an evaluation, we gave micro-projects and 95% of the submissions were approved by the Leadership. One thing I would like to point out is whenever I would be mentoring I will ask more questions to ensure students get the concept correct.
Now I have decided to start tutoring again to high school and undergrad students as a part-time tutor so that I can earn a side income along with working on my startup. I have a firm dedication to what I do.
Looking forward to teaching more students in the future and make this world a beautiful place to live.
0.00
0 Reviews
10+ Question Solved
Related Book For
Financial Accounting
ISBN: 978-0135012840
7th edition
Authors: Walter T. Harrison, Charles T. Horngren
Question Posted:
Students also viewed these Accounting questions
-
Brent Landry Company reported these ratios at December 31, 2010 (dollar amounts in millions): Brent Landry Company completed these transactions during 2011: a. Purchased equipment on account, $6 b....
-
Johnston Company reported these ratios at December 31, 2012 (dollar amounts in millions): Johnston Company completed these transactions during 2013: a. Purchased equipment on account, $5 b. Paid...
-
Bart Morris Company reported these ratios at December 31, 2012 (dollar amounts in millions): Bart Morris Company completed these transactions during 2013: a. Purchased equipment on account, $8 b....
-
Poppins Company has the following: If 9,000 units are on hand at December 31, the cost of the ending inventory under FIFO is: (a) $99,000. (b) $108,000. (c) $113,000. (d) $117,000. Inventory, Jan. 1...
-
Why should companies attempt to secure cash for investment in property, plant, and equipment from long-term or permanent sources?
-
Under what circumstances would a static budget be appropriate? Discuss.
-
The influence of temperature on the equilibrium constant of a chemical reaction can be obtained from (a) \(\left(\frac{\partial \ln K}{\partial T} ight)=-\frac{\Delta \dot{H}}{T^{2}}\) (b) \(\ln...
-
Robert Perez is a contractor specializing in custom-built jacuzzis. On May 1, 2012, his ledger contains the following data. Raw Materials Inventory ....... $30,000 Work in Process Inventory ..........
-
Pass a variable named verified_email from dashboard.html to usersinfo() in python file using AJAX. May I know why when I click on the Personal Information link, nothing happen? At which part did I...
-
The goodwill of $20,000 on Illini's 12/31/20X0 Balance Sheet is related to a subsidiary of Illini (i.e., a reporting unit). At the end of 20X1, there is no indication that it is more likely than not...
-
Refer to Exercise 3-30. In Exercise 3-30 Journalize the adjusting and closing entries of Kopec Production Company at December 31. There was only one adjustment to Service Revenue. Required 1. After...
-
Valley Forge Corporation reported the following current accounts at December 31, 2008 (amounts in thousands): During 2009, Valley Forge completed these selected transactions: Sold services on...
-
What is cost measurement? Cost accumulation? What is the difference between the two?
-
Contributions to a spouse's RRSP [cause / do not cause] attribution. (This is roughly true - as long as they money remains within the RRSP for a few years.) This uses up [your / your spouse's] RRSP...
-
Write a Java program which reads a positive integer as a command line argument, then displays the sum of all even values up to and including the value provided, followed by the sum of all odd values...
-
Exercise 3 CollegeCalculator In small groups brainstorm all the expenses involved in attending a college or university (rent, tuti- tion, books, etc) and possible offset costs (scholarships, etc)....
-
Filipino American diver and coach Vicki Draves is on a diving board at the 1 9 4 8 London Olympics ( where she won the Gold ) and her bouncing is simple harmonic motion with a period of 0 . 7 5 8...
-
All countries, even rich countries, face the issue of scarcity at some point. What are some choices that the United States has made recently, and what are the opportunity costs?
-
For the following exercises, sketch two periods of the graph for each of the following functions. Identify the stretching factor, period, and asymptotes. f(x) = 2tan(4x 32)
-
Explain briefly what is meant by electronic data interchange (EDI). How does EDI affect a companys audit trail?
-
The cash data of Donald Automotive for January 2010 follow: Donald received the following bank statement on January 31, 2010: Additional data for the bank reconciliation include the following: a. The...
-
The October 31 bank statement of Dunlap Engineering Associates has just arrived from Carolina First Bank. To prepare the Dunlap bank reconciliation, you gather the following data: a. Dunlaps Cash...
-
Flawless Skin Care makes all sales on credit. Cash receipts arrive by mail, usually within 30 days of the sale. Elizabeth Nelson opens envelopes and separates the checks from the accompanying...
-
At the beginning of the summer, Humphrey Nelson was looking for a way to earn money to pay for his college tuition in the fall. He decided to start a lawn service business in his neighborhood. To get...
-
Adam transfers property with an adjusted basis of $ 5 0 , 0 0 0 ( fair market value of $ 4 0 0 , 0 0 0 ) to Swift Corporation for 9 0 % of the stock. The property is subject to a liability of $ 6 0 ,...
-
Oriole s Computer Repair Shop started the year with total assets of $ 3 2 1 0 0 0 and total liabilities of $ 2 0 9 0 0 0 . During the year, the business recorded $ 5 2 0 0 0 0 in computer repair...
Study smarter with the SolutionInn App