Question: Based on the following data, what is the current ratio, rounded to one decimal place? Accounts payable Accounts receivable $30,000 63,000 Accrued liabilities Cash

Based on the following data, what is the current ratio, rounded to

Based on the following data, what is the current ratio, rounded to one decimal place? Accounts payable Accounts receivable $30,000 63,000 Accrued liabilities Cash Fixed assets 5,000 31,500 670,000 Intangible assets 50,000 Inventory 69,000 Long-term investments 80,000 Long-term liabilities 100,000 Prepaid expenses 1,000 Temporary investments 38,500

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Okay lets calculate the current ratio Current asset... View full answer

Question Has Been Solved by an Expert!

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

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Year 1 Red Yellow Units produced and sold 9,000 13,000 Sales price per unit $ 105 $ 90 Green 20,000 $ 55 Total 42,000 Direct materials cost per unit $ 45 $ 35 $ 20 Direct labor-hours per unit 3 2 0.5...

Question 22 2.5 pts Mid-Valley Travel Agency (MVTA) has offices in 12 cities. The company believes that its monthly airline bookings are related to the mean income in those cities and has collected...

7) The second financial statement to prepare is the statement of retained eamings. To determine the ending balance of retained earnings you need to start with the opening balance as reported in the...

Based on the following data, what is the current ratio, rounded to one decimal place? Accounts payable Accounts receivable Accrued liabilities Cash Fixed assets Intangible assets Inventory Long-term...

9 Based on the following data, what is the quick ratio, rounded to one decimal place? Accounts payable Accounts receivable Accrued liabilities Cash Intangible assets Inventory Long-term investments...

Based on the following data, what is the current ratio (rounded to one decimal place) ? Accounts payable $31,000 Accounts receivable 58,000 Accrued liabilities 5,500 Cash 42,000 Intangible assets...

Based on the following data, what is the quick ratio, rounded to one decimal place? Accounts payable $ 32,000 64,000 Accounts receivable Accrued liabilities 7,000 Cash 20,000 Intangible assets 40,000...

Based on the following data, what is the quick ratio, rounded to one decimal point? Accounts payable $ 30,000 Accounts receivable 60,000 Accrued liabilities 4,000 Cash 60,000 Fixed assets 670,000...

Based on the following data, what is the quick ratio, rounded to one decimal point? Accounts payable $ 30,000 Accounts receivable 60,000 Accrued liabilities 5,000 Cash 40,000 Fixed assets 670,000...

What is a business rule, and what is its purpose in data modeling?

A wedge splits a sheet of 20°C water, as shown in Fig. P3.30 Both wedge and sheet are very long into the paper. If the force required to hold the wedge stationary is F = 124 N per meter of depth...

A local pet supplies store had a good year with rising revenues and reduced operating costs resulting in personal income for the owner of nearly $ 1 5 0 , 0 0 0 . One - third of that went to local,...

For the coming year, Archway Computers Inc. expects to produce and sell 200,000 computers. Of these, 80,000 will be consumer (personal) computers and 120,000 will be small business computers. Common...

Wescott Company has three divisions: A, B, and C. The company has a hurdle rate of 8 percent. Selected operating data for the three divisions are as follows: Wescott is considering an expansion...

The following information relates to Starr Companys investment in available- for- sale bonds for 2016: Jan. 1 Purchased $ 30,000 face value of Bradford Company 8% bonds for $ 29,100. The market rate...

During two recent years Perez Construction, Inc., disposed of the following plant and equipment: Required: 1. Determine the cash flow from the sale of property for each year that would be reported in...

Refer to the allocation of dividends for Pinecraft Industries Inc. on page 485 . Answer these questions about Pinecraft's cash dividends: 1. How much in dividends must Pinecraft declare each year...

6 Theory of Machines 5. A shaft carries five masses A, B, C, D and E which revolve at the same radius in planes which are equidistant from one another. The magnitude of the masses in planes A, C and...

Monon Cable Television Company reported the following financial statements for 2011: Required: 1. Prepare a statement of cash flows, using the indirect method to compute net cash flow from operating...

Head-First Company had planned to sell 5,000 bicycle helmets at $75 each in the coming year. Unit variable cost is $45 (includes direct materials, direct labor, variable factory overhead, and...

The chart below lists financial statement items that may be affected by the use of either the FIFO or LIFO inventory costing methods. Required: Assuming that prices are rising, complete the chart by...

Has Malthus predictions held? For what time period? Why or why not?

What is Jevons paradox?

How was this related to economic issues? Why did this have such a widespread impact?