A firm's long-term assets = $20,000, total assets = $300,000, inventory = $28,000 and current liabilities =

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

Question:

A firm's long-term assets = $20,000, total assets = $300,000, inventory = $28,000 and current liabilities = $40,000. What are the firm's current ratio and quick ratio? (Round your answer to 1 decimal place.)

Related Book For answer-question

Financial Accounting

ISBN: 9781264229734

11th Edition

Authors: Robert Libby, Patricia Libby, Frank Hodge

See More Books

Posted Date: May 31, 2023 01:34 AM

See More Questions

Annapolis Company purchased a $2,000, 7%, 9-year bond at 99 and held it to maturity. The straight line method of amortization is used for both premiums & discounts. What is the net cash received...
The treasurer of Kelly Bottling Company (a corporation) currently has $200,000 invested in preferred stock yielding 10 percent. He appreciates the tax advantages of preferred stock and is considering...
A firm in a purely competitive industry is currently producing 1,000 units per day at a total cost of $700. If the firm produced 800 units per day, its total cost would be $450, and if it produced...
Find the deflection y(x) of a cantilever beam embedded at its left end and free at its right end when the load is as given in Example 10.
Because of the large number of devices in today's PC chips, finned heat sinks are often used to maintain the chip at an acceptable operating temperature. Two fin designs are to be evaluated, both of...
Match List I (Kinematic inversions) with List II (Applications) and select the correct answer using the codes given below the lists: List I List II A. 1. Hand pump B. 2. Compressor C. 3. Whitworth...
Why is it necessary to serve nonparty witnesses with a subpoena to appear at trial?
Halloway Company has issued three different bonds during 2010. Interest is payable semiannually on each of these bonds. 1. On January 1, 2010, 1,000, 8%, 5-year, $1,000 bonds dated January 1, 2010,...
Paragraph 1 - On January 1, 2021, Parent Company purchased 80% of the common stock of Subsidiary Company for $502,000. On this date Subsidiary had total owner's equity of $440,000 ($100,000-...
Alpha and Beta are divisions within the same company. The managers of both divisions are evaluated based on their own divisions return on investment (ROI). Assume the following information relative...
What are the critical analysis of hofstede theories as it applies to Coats Indonesia. provide references, citations and supporting evidences.
Calculate what the likely price per share would be if Yahoo! Inc. announced that it would sell their entire stakes in Alibaba Group (at the same price it sold the 523 million shares) and Yahoo Japan...
Your first task will be to identify a subject that you could conceivably write about in your graduate studies. For example, you may be working on a Masters in Information Technology, and you have an...
(10) A person earns a wage $10 per hour and has 100 hours per week to allocate between leisure and work. At the $10 wage, the person chooses to consume 65 hours of leisure per week. a. Draw the...
Explain the term Site Remediation as it relates to a construction site and present at least two methods in detail used during this process. with Reference
Regarding an affordable housing project in rhode island: Describe and itemize the equipment requested for purchase, the intended purpose of each item, and how the estimated costs were determined....
You are the new assistant to the Financial Manager of Evan Jan Pool (Pty) Ltd. (EJP) and you have been tasked to assist with ad hoc finance duties that are given to the Financial Manager by the Chief...
How can NAFTA be beneficial to suppliers of Walmart?
Refer to the financial statements of Target given in Appendix B at the end of this book. All dollar amounts in the statements and answers are in millions. Data from in Appendix B Required: 1. How...
On October 1, 2023, the $12,000 premium on a one-year insurance policy for the building was paid and recorded as Prepaid Insurance Expense. On December 31, 2023 (end of the accounting period), what...
On January 1, 2023, Anson Company started the year with a $300,000 credit balance in Retained Earnings, a $50,000 balance in Common Stock, and a $300,000 balance in Additional Paid-in Capital. During...
What are the advantages of resource leveling?
Which of the following statements is false? A. The highest need in Maslows pyramid is called selfactualization. B. Most people today prefer managers who follow Theory X versus Theory Y. C. Herzberg...
Some project managers like to assess team performance by using a technique known as MBWA, which stands for _______________. A. management by wondering aloud B. management by wandering around C....

A firm's long-term assets = $20,000, total assets = $300,000, inventory = $28,000 and current liabilities =

Question:

Expert Answer:

To calculate the firms current ratio we need to divide its current assets by its curre... View the full answer

Financial Accounting

Students also viewed these finance questions