Question: From the data given calculate the following. (Round to the nearest hundredth or hundredth of a percent as needed.) a. Current ratio b. Acid test

From the data given calculate the following. (Round to the nearest hundredth or hundredth of a percent as needed.)

a. Current ratio

b. Acid test ratio

c. Asset turnover ratio

d. Gross profit rate

Net Sales ............................................$270,000

Current Assets........................................ 52,000

Gross Profit......................................... 108,000

Current Liabilities.................................... 17,000

Total Assets.......................................... 170,000

Merchandise Inventory ................................5,000

Prepaid Expenses..................................... 12,000

Step by Step Solution

★★★★★

3.42 Rating (165 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

a b c d Current ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

1222-B-C-A-O(1887).docx

120 KBs Word File

Students Have Also Explored These Related Cost Accounting Questions!

Q:

Calculate the following ratios from the data given below: 1. Debt ratio 2. Debt service coverage multiples 3. Interest coverage Balance Sheet 12/31/2014 Assets Cash..$575,000 Short-term...

Q:

Calculate the following ratios from the data given below: 1. Debt to equity 2. Times interest earned 3. Inventory turnover Balance Sheet 12/31/2014 Assets Cash..$575,000 Short-term investments250,000...

Q:

Calculate the following ratios from the data given below: 1. Receivables turnover 2. Average collection period 3. Gross margin Balance Sheet 12/31/2014 Assets Cash..$575,000 Short-term...

Q:

From the data given calculate the following (Round to the nearest hundredth or hundredth of a percent as needed.) a. Current ratio b. Acid test ratio C. Asset tumover ratio d. Gross profit rate E...

Q:

From the data given calculate the following. (Round to the nearest hundredth or hundredth of a percent as needed.) a. Current ratio b. Acid test ratio c. Asset turnover ratio d. Gross profit rate Net...

Q:

From the data given calculate the following. (Round to the nearest hundredth or hundredth of a percent as needed.) 1. Current ratio 2. Acid test ratio 3. Asset turnover ratio 4. Gross profit rate Net...

Q:

pls solved within 30mint Individual Assignment 1 (30% of the final marks) Based on the above information prepare an academic report that should answer the following questions: Answer the following...

Q:

prepare the following ratios for the current year. current ratio acid test ratio inventory turnover Days sales in average receivables. - Requirements Virginia's Crafts has provided the following...

Q:

. o Using the financial statement data provided below, will in the blanks in the table below Provide an example of any two ratios from each of the categories 1, 2 and 3, and one ratio for category 4...

Q:

The following are the financial statements of Richardo Ltd. for the year ended 31 March 1995: Balance Sheet as at 31 March 1995 Shs. Shs. Cash Debtors Stock Equipment 480,000 640,000 2,080,000...

Q:

QuickBooks Online Accountant allows you to requestinformation from clients. Which of the following 3 statements areaccurate?(Select all that apply) Selecting Create client request on the Projects...

Q:

"Fake news" is a common term these days. We get a lot of information from online sites, including our news. How do we know that what we are reading is legitimate? This article in businessinsider.com...

Q:

Ac.F100 Managerial Finance Workshop Questions (week 14) 1. You want to have 1.5 million saved on the day you retire. Explain how you can minimise the amount of cash you must invest in order to...

Q:

6. Cal Cool Cooper has $200 to spend on cell phones and sunglasses. a. Each cell phone costs $100 and each pair of sunglasses costs $50. Which bundles lie on Cals budget line? Draw a diagram like...

Q:

If, in exercise E8-2B, cash on hand was $29, prepare the entry to replenish the petty cash on July 31. Data From Exercise E8-2B In general journal form, prepare journal entries to establish a petty...

Q:

If, in exercise E8-2A, cash on hand was $13, prepare the entry to replenish the petty cash on July 31. Data From exercise E8-2A In general journal form, prepare journal entries to establish a petty...

Q:

Identify whether each of the following items affects the bank or book side of the reconciliation, and indicate whether the amount represents an addition or a subtraction. Bank or Book + or - a....

Q:

Capitalized cost is defined as the present workh of costs over an infinite analysis period. It can be shown that the factor (P/A,i%, N = infinity) is equal to (1/i), with the interest rate i in...

Q:

questions 17 & 18 QUESTION 17 What is the expected return on asset A if it has a beta of 0.3, the expected market return is 14%, and the risk-free rate is 5%7 A. 6.0% B.9.2% C.7.2% D.7.7% QUESTION 18...

Q:

Barker Corp. has a beta of 1.10, the real risk-free rate is 2.00%, investors expect a 3.00% future inflation rate, and the market risk premium is 4.70%. What is Barker's required rate of return? a....