Answered: Based on the above data, what is the…

Name: Accounts payable$ 30,000Accounts receivable35,000Accrued liabilities7
Uploaded: 2022-11-18T00:26:54.000Z
Channel: Bartleby
Description: Accounts payable$ 30,000Accounts receivable35,000Accrued liabilities7,000Cash25,000Intangible assets40,000Inventory72,000Long-term investments100,000Long-term liabilities75,000Marketable securities36,000Notes payable (short-term)20,000Property, plan

Business

Accounting

Based on the above data, what is the quick ratio, rounded to one decimal point? O 1.0 O 2.9 O 1.7 O 1.1

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Liabilities (in KD) Accounts payable Assets (in KD) Cash 154674 80000 Accounts receivable 100000 Accrued expenses 100000 Inventory 210000 Notes payables 180000 Property, Equipment, Plants 1500000 Long-term borrowings 400000 Less: Amortization 50000 Total liabilities Total equity Total assets Total Liabilities and Total Equity Income statement Sales 900000 COGS 400000 Gross profit Operating expenses 200000 EBIT Interest expeses 50000 EBT Taxes 20000 Net Income
Balance sheet Assets (in KD) Liabilities (in KD) Cash 154674 Accounts payable 80000 Accounts receivable 100000 Accrued expenses 100000 Inventory 210000 Notes payables 180000 Property, Equipment, Plants 1500000 Long-term borrowings 400000 Less: Amortization 50000 Total liabilities Total equity Total assets Total Liabilities and Total Equity Income statement Sales 900000 COGS 400000 Gross profit Operating expenses 200000 EBIT Interest expenses 50000 EBT Taxes 20000 Net Income Consider the above balance sheet and income statement. Calculate the retun on assets of this company In the reasons box, explain your answer in a sentence. Note Use three decimal poants in your answer (0.023 0.058 Answer Give your reasons
Assets (in KD) Liabilities (in KD) 20000 Accounts Cash 80000 payable Accrued Accounts receivable 100000 100000 expenses 210000 Notes payables 180000 Inventory Property, Equipment, Plants Less: Amortization 1500000 Long-term borrowings 400000 50000 Total liabilities Total equity Total Liabilities and Total Equity Total assets Income statement Sales COGS 900000 400000 Gross profit Operating expenses200000 EBIT Interest expenses EBT 50000 Taxes 20000 Net Income Consider the above balance sheet and income statement. The average collection period is equal to: (Show calculation steps in reasons box) a. 100.55 days b. 54.50 days C. 55.40 days d. 40.55 days
Balance sheet Liabilities (in KD) Assets (in KD) 80000 20000 Accounts payable Cash 100000 Accrued expenses 100000 Accounts receivable 180000 208231 Notes payables Inventory 400000 Property, Equipment, Plants 1500000 Long-term borrowings Less: Amortization 50000 Total liabilities Total equity Total assets Total Liabilities and Total Equity income statement Sales 900000 COGS 400000 Gross profit Operating expenses 200000 EBIT Interest expenses 50000 EBT Taxes 20000 Net Income Consider the above balance sheet and income statement. Calculate the inventory turnover ratio of this company In the reasons box, explain your answer in a sentence Note Use two decimal points in your answer (2.54, 4.26,) Answer Give your teasons
Balance sheet Assets (in KD) Liabilities (in KD) 80000 Accounts payable Accrued expenses Cash 20000 100000 100000 Accounts receivable Inventory 210000 Notes payables 180000 Property, Equipment, Plants 1500000 Long-term borrowings 50000 400000 Less Amortization Total liabilities Total equity Total assets Total Liabilities and Total Equity Income statement Sales 900000 COGS 400000 Gross profit Operating expenses 200000 EBIT Interest expenses 50000 EBT Taxes 20000 Net Income Consider the above balance sheet and income statement. The account payable deferral period is equal to: (Note: Show calculation details in the reasons box) Oa 52.40 days Ob 365 days Oc 32 44 days 73 days
Balance sheet Assets (in KD) Liabilities (in KD) Cash 20000 Accounts payable 80000 Accounts receivable 100000 Accrued expenses 100000 Inventory 210000 Notes payables 180000 Property, Equipment, Plants 1500000 Long-term borrowings 400000 Less: Amortization 50000 Total liabilities Total equity Total assets Total Liabilities and Total Equity Income statement Sales 900000 COGS 400000 Gross profit Operating expenses 200000 EBIT Interest expenses 50000 EBT Taxes 20000 Net Income Consider the above balance sheet and income statement. The account payable deferral period is equal to: (Note: Show calculation details in the reasons box) Oa 52.40 days Ob 365 days Oc 32 44 days Cd 73 days
Assets (in KD) Liabilities (in KD) Cash 20000 Accounts payable 80000 Accounts receivable 100000 Accrued expenses 100000 210000 Notes payables Property, Equipment, Plants 1500000 Long-term borrowings Inventory 180000 400000 Less: Amortization 50000 Total liabilities Total equity Total assets Total Liabilities and Total Equity Income statement Sales 900000 COGS 400000 Gross profit Operating expenses 200000 EBIT Interest expenses 50000 EBT Taxes 20000 Net Income The fixed asset turnover ratio can be explained as follows: (Note: Show calculation steps in the reasons box) Oa Each dinar of fixed assets is generating $0.6 in sales. Ob Each dinar of fixed assets is generating $0.62 in sales Oc Each dinar of sales is generating $0.6 in fixed assets 04 Each dinar of sales is generating $0.62 in fixed assets.
Balance sheet Liabilities (in KD) Assets (in KD) 20000 Accounts payable 80000 Cash Accounts receivable 100000 Accrued expenses 100000 Inventory 210000 Notes payables 180000 Property, Equipment, Plants 1500000 Long-term borrowings 50000 400000 Less: Amortization Total liabilities Total equity Total assets Total Liabilities and Total Equity Income statement Sales 900000 COGS 400000 Gross profit Operating expenses 200000 EBIT Interest expenses 50000 EBT Тахes 20000 Net Income The fixed asset turnover ratio can be explained as follows: (Note: Show calculation steps in the reasons box) Oa Each dinar of fixed assets is generating $0.6 in sales. Ob Each dinar of fixed assets is generating $0.62 in sales. Oc Each dinar of sales is generating $0.6 in fixed assets. Od Each dinar of sales is generating $0.62 in fixed assets.
Measures of liquidity, solvency, and profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $82.60 on December 31, 20Y2. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 20Υ2 20Υ1 Retained earnings, January 1 $3,704,000 $3,264,000 Net income $ 600,000 $ 550,000 Dividends: On preferred stock (10,000) (10,000) On common stock (100,000) (100,000) Increase in retained earnings $ 490,000 $ 440,000 Retained earnings, December 31 $4,194,000 $3,704,000 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Υ1 Sales $ 10,850,000 $10,000,000 Cost of goods sold (6,000,000) (5,450,000) $ 4,850,000 $ (2,170,000) Gross profit $ 4,550,000 Selling expenses $ (2,000,000) Administrative expenses (1,627,500) (1,500,000) Total operating expenses $(3,797,500) $ (3,500,000) Operating income $ 1,052,500 $ 1,050,000 Other revenue and expense:…
Measures of liquidity, solvency, and profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $82.60 on December 31, 20Y2. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 20Υ2 20Υ1 Retained earnings, January 1 $3,704,000 $3,264,000 Net income $ 600,000 $ 550,000 Dividends: On preferred stock (10,000) (10,000) On common stock (100,000) (100,000) Increase in retained earnings $ 490,000 $ 440,000 Retained earnings, December 31 $4,194,000 $3,704,000 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Υ1 Sales $ 10,850,000 $10,000,000 Cost of goods sold (6,000,000) (5,450,000) $ 4,850,000 $ (2,170,000) Gross profit $ 4,550,000 Selling expenses $ (2,000,000) Administrative expenses (1,627,500) (1,500,000) Total operating expenses $(3,797,500) $ (3,500,000) Operating income $ 1,052,500 $ 1,050,000 Other revenue and expense:…
Using the data given below, compute for the total amount of items that meet the definition of financial asset Cash P 100,000 Fair value through profit or loss securities 500,000 Investment in associate 2,000,000 Trade receivable 1,000,000 Inventories 800,000 Prepaid insurance 50,000 Interest rate swap receivable 200,000 Investment in debt securities – FVTOCI 400,000 Investment in debt securities – AC 350,000 Land 2,000,000 Buildings 3,000,000 Machinery and equipment 1,500,000 Patents 250,000
Assets (in KD) Liabilities (in KD) 80000 Accounts payable Accrued expenses Cash 263854 Accounts receivable 100000 100000 Inventory 210000 Notes payables 180000 Property, Equipment, Plants 1500000 Long-term borrowings 400000 Less: Amortization 50000 Total liabilities Total equity Total assets Total Liabilities and Total Equity Consider the above balance sheet. Calculate the quick ratio of this company. In the reasons box, comment on the liquidity position of the company Note: Use two decimal points in your answer (1 23, 158, ) Answer: Give your reasons