The following information has been extracted from the financial statements of Blue Hills Ltd. Required (a) Calculate

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The following information has been extracted from the financial statements of Blue Hills Ltd.

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Required

(a) Calculate the following for 2020 and 2019:
i. current ratio

ii. quick ratio.

(b) Comment on the liquidity and trend in liquidity, given that the industry average for these ratios are: current 2.3:1 and quick 1.3:1.

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Related Book For answer-question

Financial Accounting

ISBN: 9780730363217

10th Edition

Authors: John Hoggett, John Medlin, Keryn Chalmers, Claire Beattie, Andreas Hellmann, Jodie Maxfield

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Question Posted: Mar 09, 2024 06:04 AM

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The following information has been extracted from the financial statements of Blue Hills Ltd. Required (a) Calculate

Question:

Cash at bank Marketable securities Accounts receivable Inventory Prepaid expenses Plant and equipment Accounts payable Bills payable Accrued expenses 2020 $ 155 000 350 000 410 000 940 000 31 000 1 650 000 879 000 53 000 6000 2019 $ 180000 320000 385 000 960 000 78000 1 700 000 823 500 49 500 3500

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Financial Accounting

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