The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,500,000, with...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,500,000, with 75 percent of sales sold on credit. STUD CLOTHIERS Balance Sheet 20X1 Assets Cashi Accounts receivable Inventory Plant and equipment Total assets $ a. Current ratio b. Quick ratio c. Debt-to-total-assets ratio d Asset turnover e. Average collection period 84,000 378,000 245,000 433,000 $1,140,000 Accounts payable Accrued taxes Bonds payable (long-term) Common stock Liabilities and Equity Paid-in capital Retained earnings 2.28 times times % times days Total liabilities and equity $ Compute the following ratios: (Use a 360-day year. Do not round intermediate calculations. Round your answers to 2 decimal places. Input your debt-to-total assets answer as a percent rounded to 2 decimal places.) 227,000 83,000 217,000 100,000 150,000 363,000 $ 1,140,000 The balance sheet for Stud Clothiers is shown next. Sales for the year were $3,500,000, with 75 percent of sales sold on credit. STUD CLOTHIERS Balance Sheet 20X1 Assets Cashi Accounts receivable Inventory Plant and equipment Total assets $ a. Current ratio b. Quick ratio c. Debt-to-total-assets ratio d Asset turnover e. Average collection period 84,000 378,000 245,000 433,000 $1,140,000 Accounts payable Accrued taxes Bonds payable (long-term) Common stock Liabilities and Equity Paid-in capital Retained earnings 2.28 times times % times days Total liabilities and equity $ Compute the following ratios: (Use a 360-day year. Do not round intermediate calculations. Round your answers to 2 decimal places. Input your debt-to-total assets answer as a percent rounded to 2 decimal places.) 227,000 83,000 217,000 100,000 150,000 363,000 $ 1,140,000
Expert Answer:
Answer rating: 100% (QA)
b Quick Ratio Quick assets Current liabilities 46200... View the full answer
Related Book For
Foundations of Financial Management
ISBN: 978-1259194078
15th edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
Posted Date:
Students also viewed these accounting questions
-
The balance sheet for Stud Clothiers is shown next. Sales for the year were $2,400,000, with 90 percent of sales sold on credit. Compute the following ratios: a. Current ratio. b. Quick ratio. c....
-
The financial statements and industry norms are shown below for Pamplin, Inc.: a. Compute the financial ratios for Pamplin to compare both for 2012 and 2013 against the industry norms. b. How liquid...
-
Jen and Berry's sells ice-creams from its factory-shop in Petone. There is a managing director (Maynard Dibble), a marketing manager (Mary Salman) and a production manager (Peter Pritchard). Maynard...
-
What is the potential difference across one wire of a 30-m extension cord made of 16-gauge copper wire carrying a current of 5.0 A?
-
The following information is available for Lotus Lake, Inc., as of May 31, 2011: Cash on the books as of May 31 amounted to $43,784.16. Cash on the bank statement for the same date was $53,451.46. ...
-
The magnetic flux through one face of a cube is +0.120 Wb. (a) What must the total magnetic flux through the other five faces of the cube be? (b) Why didn't you need to know the dimensions of the...
-
Water flows in a vertical pipe of \(0.15-\mathrm{m}\) diameter at a rate of \(0.2 \mathrm{~m}^{3} / \mathrm{s}\) and a pressure of \(200 \mathrm{kPa}\) at an elevation of \(25 \mathrm{~m}\)....
-
Carson Trucking is considering whether to expand its regional service center in Moab, Utah. The expansion requires the expenditure of $10,000,000 on new service equipment and would generate annual...
-
Write a program to build a text histogram of the distribution of letter frequencies in an input string. Get input from the user using the provided code, which uses lower () to convert the string to...
-
Ayayai Hotels Ltd. (AHL) is a small boutique hotel that provides 44 suites that can be rented by the day, week, or month. Food service is available through room service as well. In addition, there...
-
Given the following code, int i = 3, j = 5, *p = &i, *q=&j, *r; float x; 12.1 (5 Pints) What is the output value? 12.2 (5 Points) Is it legal? 12.3 (5 Points) What is the output value? P == &i; r =...
-
How do advanced communication technologies facilitate empowerment by enabling seamless collaboration, knowledge sharing, and decision-making processes across geographically dispersed teams?
-
Provide 5 examples from companies, organizations, or corporations where a business has gamified their human experience. This can either be within human resource management or within sales management....
-
Unit 3 Assignment Template Assignment Part 1: Using your course product, list and briefly describe or summarize what you would propose as answers for the seven questions a media plan should cover....
-
Please provide a 400 hundred words essay about the core idea : " Knowledge is not fact, it reflects the values and interests of the knowledge creator." The task This seems to be the core idea, or...
-
GE has decided to introduce this brand rand of refrigerators by focusing on Middle Eastern and North Africa (MENA) Countries. MENA countries consist of Algeria, Bahrain, Egypt, Iran, Iraq, Israel,...
-
Garland's Lodge is an independent boutique resort located in Oak Creek Canyon just north of Sedona, Arizona. The resort features 16 individual cabins, situated along the banks of Oak Creek, and a...
-
Activator rod AB exerts on crank BCD a force P directed along line AB. Knowing that P must have a 100-N component perpendicular to arm BC of the crank, determine (a) The magnitude of the force P, (b)...
-
Floating rate bond (LO16-2) You buy an 8 percent, 25-year, $1,000-par-value floating rate bond in 1999. By the year 2004, rates on bonds of similar risk are up to 11 percent. What is your one best...
-
Cyber Security Systems had sales of 3,500 units at $75 per unit last year. The marketing manager projects a 30 percent increase in unit volume sales this year with a 40 percent price increase....
-
How is valuation of any financial asset related to future cash flows?
-
List differences between the temptation pattern described here and the traditional pattern.
-
What are the capabilities required to achieve temptation? Describe each of them.
-
Draw and describe the class diagram for stable temptation pattern?
Study smarter with the SolutionInn App