On December 31, Gold Standard Company reported the following information in its financial statements Total current assets

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

Question:

On December 31, Gold Standard Company reported the following information in its financial statements

Total current assets $680,000

Total long-term assets $1,850,000

Total current liabilities $490,000

Total long-term debt $975.00

Based on this information, calculate the company's current ratio.

Related Book For answer-question

Financial Reporting Financial Statement Analysis and Valuation a strategic perspective

ISBN: 978-1337614689

9th edition

Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

See More Books

Posted Date: Jun 27, 2023 07:33 AM

See More Questions

The Coca-Cola Company reported the following information about its long-term debt in the notes to a recent financial statement (in millions): Long-term debt is comprised of the following: a. How much...
On December 31, 2015, Ajacks Company reported the following information in its financial statements: Accounts receivable ............ $1,193,400 Allowance for doubtful accounts ........81,648 Bad...
On December 31, 2019, Ajacks Company reported the following information in its financial statements: Accounts receivable ..................................... $1,193,400 Allowance for doubtful...
On January 1, 2018, Doctors Credit Union (DCU) issued 7%, 20-year bonds payable with face value of $200,000. The bonds pay interest on June 30 and December 31. Requirements 1. If the market interest...
A particle of mass 0.195 g carries a charge of -2.50 X l0-8 C. The particle is given an initial horizontal velocity that is due north and has magnitude 4.00 X l04 m/s. What are the magnitude and...
Recording Bad Debts Sandel Company reports the following financial information before adjustments. Prepare the journal entry to record bad debt expense assuming Sandel Company estimates bad debts at...
To calculate the expected frequencies, we must know the row totals, the column totals, and the ________________ total. In Exercises 35, fill in each blank with the appropriate word or phrase.
(1) What sources of capital should be included when you estimate Harry Daviss weighted average cost of capital (WACC)? (2) Should the component costs be figured on a before-tax or an after-tax basis?...
The following information relates to the pension plan for the employees of Sheridan Company: 1/1/25 12/31/25 12/31/26 Accum. benefit obligation $9740000 $10160000 $13100000 Projected benefit...
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
Required: Evaluate Starbucks company performance in terms of. 1. Liquidity 2. Profitability 3. Long-term Solvency 4. Adequacy of cash fiows 5. Market strength Starbucks Corporation Consolidated...
On 21 March 2021, Penny is made redundant by her employer. She receives statutory redundancy pay of 4,750 and an ex gratia compensation payment of 32,000 (none of which ranks as a PILON). Her only...
The world population problem is not just a matter of expanding numbers but also one of rising affluence and limited resources. It is as much a problem caused by developed nations as it is one...
Why is a proper understanding of risks faced by smallholder farmers of such fundamental importance to agricultural development policy?
Which statements about the following code are correct? A. It consistently prints 6. B. It consistently prints 7. C. It consistently prints another value. D. It does not consistently print the same...
Which of the following can fill in the blank to have the code print 44? A. Only map B. Only mapToInt C. Only mapToObject. D. Both map and mapToInt E. Both map and mapToObject F. map, mapToInt, and...
What annual profit did a restaurant make if 26,412 customers were served, the average guest check was $17.60, the fixed costs were $193,764.40, and the variable rate .4? Show all calculations and...
Define relevant costs and discuss: (1) whether all future costs are relevant for decision making and (2) whether variable costs are always relevant and fixed costs are always irrelevant
The chapter describes valuation using free cash flows for all debt and equity stakeholders as well as free cash flows for equity shareholders. For each approach, give one example of valuation...
Assume Walmart acquires a tract of land on January 1, 2016, for $100,000 cash. On December 31, 2016, the current market value of the land is $150,000. On December 31, 2017, the current market value...
The data in Exhibit 11.3 on industry median betas suggest that firms in the following three sets of related industries have different degrees of systematic risk. Median Beta during 2006-2015...
True or False. The element stiffness matrices are always singular.
Derive the stiffness matrix of the bar element in longitudinal vibration whose cross-sectional area varies as $A(x)=A_{0} e^{-(x / l)}$, where $A_{0}$ is the area at the root (see Fig. 12.14)....
Fill in the Blank. In the finite element method, the elements are assumed to be interconnected at certain points known as ____________ .

On December 31, Gold Standard Company reported the following information in its financial statements Total current assets

Question:

Expert Answer:

To calculate the current ratio we need to divide the total current assets by the total current ... View the full answer

Financial Reporting Financial Statement Analysis and Valuation a strategic perspective

Students also viewed these finance questions