Homework Answers
Solution 16 :
The formula for calculating Quick assets is
Quick Assets = [ Cash + Marketable securities + Accounts receivable ]
As per the information available Quick assets are
Cash = $ 30,000 ; Marketable securities = $ 36,000 ; Accounts receivable = $ 65,000 ;
Thus total Quick Assets = Cash + Marketable Securities + Accounts receivable
= $ 30,000 + $ 36,000 + $ 65,000
= $ 131,000
Thus total Quick Assets = $ 131,000
The solution is Option c. $ 131,000
Solution 17 :
The formula for calculating the amount of working capital is = Current Assets – Current Liabilities
As per the information available Current assets are
Accounts receivable = $ 65,000 ; Cash = $ 30,000 ; Inventory = $ 72,000 ; Marketable securities = $ 36,000 ; Prepaid Expenses = $ 2,000
Thus total currents Assets = Accounts receivable + Cash + Inventory + Marketable securities + Prepaid Expenses
= $ 65,000 + $ 30,000 + $ 72,000 + $ 36,000 + $ 2,000
= $ 205,000
Thus total Current Assets = $ 205,000
As per the information available Current Liabilities are
Accounts Payable = $ 40,000 ; Accrued Liabilities = $ 7,000 ; Notes Payable ( Short term ) = $ 30,000
Thus total Current Liabilities = Accounts Payable + Accrued Liabilities + Notes Payable ( Short term )
= $ 40,000 + $ 7,000 + $ 30,000
= $ 77,000
Thus total Current Liabilities = $ 77,000
Thus working capital = Total Current Assets - Total Current Liabilities
= $ 205,000 - $ 77,000
= $ 128,000
Thus the solution is Option b. $ 128,000
Solution 18:
The formula for calculating Quick ratio is
Quick Ratio = [Cash + Marketable securities + accounts receivable] / Current liabilities
As per the information available Quick assets are
Cash = $ 30,000 ; Marketable securities = $ 36,000 ; Accounts receivable = $ 65,000 ;
Thus total Quick Assets = Cash + Marketable Securities + Accounts receivable
= $ 30,000 + $ 36,000 + $ 65,000
= $ 131,000
Thus total Quick Assets = $ 131,000
As per the information available Current Liabilities are = $ 77,000
Thus Quick Ratio = $ 131,000 / $ 77,000
= 1.7013
= 1.7 ( when rounded off to one decimal place )
Thus Quick Ratio = 1.7
The solution is Option c. 1.7
Add Answer to:
16 - 17 and 18 please...
Accounts payable Accounts receivable Accrued liabilities Cash Intangible assets Inventory...
Privett Company Accounts payable $ 30,000 Accounts receivable 35,000 Accrued liabilities 7,000 Cash 25,000 Intangible assets...
Privett Company Accounts payable $ 30,000 Accounts receivable 35,000 Accrued liabilities 7,000 Cash 25,000 Intangible assets 40,000 Inventory 72.000 Long-term investments 100,000 Long-term liabilities 75,000 Marketable securities 36,000 Notes payable (short-term) 20,000 Property, plant, and equipment 400,000 Prepaid expenses 2,000 Based on the data for Privett Company, what is the amount of quick assets? $168,000 $60,000 $96,000 $61,000
Accounts payable $39,612 Accounts receivable 67,669 Accrued liabilities 6,776 Cash 15,207 Intangible assets 36,733 Inventory 73,374...
Accounts payable $39,612 Accounts receivable 67,669 Accrued liabilities 6,776 Cash 15,207 Intangible assets 36,733 Inventory 73,374 Long-term investments 110,180 Long-term liabilities 71,320 Marketable securities 36,371 Notes payable (short-term) 28,853 Property, plant, and equipment 683,525 Prepaid expenses 2,333 Based on the above data, what is the amount of quick assets? A: $51,578 B: $119,247 C: $808,477 D:$1,638,915
Accounts payable $33,888 Accounts receivable 65,867 Accrued liabilities 6,318 Cash 19,337 Intangible assets 39,824 Inventory 77,645...
Accounts payable $33,888 Accounts receivable 65,867 Accrued liabilities 6,318 Cash 19,337 Intangible assets 39,824 Inventory 77,645 Long-term investments 114,197 Long-term liabilities 73,109 Marketable securities 34,854 Notes payable (short-term) 27,089 Property, plant, and equipment 661,437 Prepaid expenses 2,045 Based on the above data, what is the amount of quick assets? $1,608,731 $793,273 $54,191 $120,058
Use the following information to answer questions 21 thru 25: Accounts Payable----$40,000 Notes Payable----$105,000 Accounts Receivable----$65,000...
Use the following information to answer questions 21 thru 25: Accounts Payable----$40,000 Notes Payable----$105,000 Accounts Receivable----$65,000 Marketable securities----$36.000 Accrued Liabilities----$38,000 Prepaid Expenses----$2.000 Cash----$30,000 Sales----$500.000 Inventory----$72,000 Cost of Goods Sold----$300,000 Equipment----$150.000 Operating Expenses----$155.000 Land/Building----5625,000 What is the amount of Quick Assets? O a. $205,000 O b. $203,000 O c. $131,000 O d. $ 66,000
Accounts payable $36,210 Accounts receivable 68,782 Accrued liabilities 6,125 Cash 23,853 Intangible assets 44,527 Inventory 72,281...
Accounts payable $36,210 Accounts receivable 68,782 Accrued liabilities 6,125 Cash 23,853 Intangible assets 44,527 Inventory 72,281 Long-term investments 118,145 Long-term liabilities 77,377 Marketable securities 35,004 Notes payable (short-term) 28,185 Property, plant, and equipment 615,187 Prepaid expenses 2,760 Based on the above data, what is the amount of working capital? $132,160 $980,539 $612,427 $202,680
stTes Exercise #4 : Análins de los Estados Fin oras (10 PUNTOS **Presente todos sus caleulos...
stTes Exercise #4 : Análins de los Estados Fin oras (10 PUNTOS **Presente todos sus caleulos para llegar al reanltzdo CADA UNO) Accounts payable Accounts receivable Accrued liabilities Cash Intangible assets Irventory Long-term investments Long-term liabilities Marketable securities Notes payable (short-term) Property, plant, and equipmient Prepaid expenses 3 40,000 65,000 7,000 30,000 40,000 72,000 110,000 75,000 36,000 30,000 625,000 2,000 1. Based on the above data, what is the amount of quick assets? 2 $205,000 b. $203,000 c. 3131,000 d....
Notes Payable--$105.000 Marketable securities--$36.000 Prepaid Expenses----$2.000 Sales---$500,000 Cost of Goods Sold---$300,000 Operating Expenses----$155,000 Accounts Payable---$40,000 Accounts...
Notes Payable--$105.000 Marketable securities--$36.000 Prepaid Expenses----$2.000 Sales---$500,000 Cost of Goods Sold---$300,000 Operating Expenses----$155,000 Accounts Payable---$40,000 Accounts Receivable---$65,000 Accrued Liabilities----$38,000 Cash----$30.000 Inventory----$72,000 Equipment----$150,000 Land/Building----$625,000 What is the amount of Quick Assets? O a. $205,000 O b. $203.000 O c. $131,000 O d. $ 66,000
Marketable securities-$36.000 Accounts Receivable- $65,000 Prepaid Expenses--$2,000 Accrued Liabilities-$38,000 Sal...
Marketable securities-$36.000 Accounts Receivable- $65,000 Prepaid Expenses--$2,000 Accrued Liabilities-$38,000 Sales-$500,000 Cash-$30,000 Inventory-$72,000 Cost of Goods Sold--$300,000 Operating Expenses-$155,000 Equipment-$150,000 Land/Building--$625.000 What is the amount of Quick Assets? O a. $205,000 O b. $203,000 O c. $131,000 d. $ 66,000 QUESTION 22 What is the Current Ratio? a. 1.12 times b. 2.63 times c. 4.50 times d. 5.12 times QUESTION 23 What is the Working Capital? a. $127,000 b. $115,000 c. $110,000 d. S 98,000 QUESTION 24 What is the Profit...
The Young Company has the following assets and liabilities: ASSETS Cash $35,000 Accounts receivable 15,000 Inventory...
The Young Company has the following assets and liabilities: ASSETS Cash $35,000 Accounts receivable 15,000 Inventory 30,000 Equipment 50,000 LIABILITIES Current portion of long-term debt 10,000 Accounts payable 2,000 Long-term debt 25,000 Determine the quick ratio (rounded to one decimal point). 13.0 4.2 6.7 3.5
21. Based on the above data, what is the quick ratio, rounded to one decimal point?...
21. Based on the above data, what is the quick ratio, rounded to one decimal point? a. 2.4 b. 3.4 c. 2.1 d. 1.5 Accounts payable $ 30,000 Accounts receivable 65,000 Accrued liabilities 7,000 Cash 20,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 100,000 Long-term liabilities 75,000 Marketable securities 36,000 Notes payable (short-term) 20,000 Property, plant, and equipment 625,000 Prepaid expenses 2,000
Privett Company Accounts payable $ 30,000 Accounts receivable 35,000 Accrued liabilities 7,000 Cash 25,000 Intangible assets 40,000 Inventory 72.000 Long-term investments 100,000 Long-term liabilities 75,000 Marketable securities 36,000 Notes payable (short-term) 20,000 Property, plant, and equipment 400,000 Prepaid expenses 2,000 Based on the data for Privett Company, what is the amount of quick assets? $168,000 $60,000 $96,000 $61,000
Use the following information to answer questions 21 thru 25: Accounts Payable----$40,000 Notes Payable----$105,000 Accounts Receivable----$65,000 Marketable securities----$36.000 Accrued Liabilities----$38,000 Prepaid Expenses----$2.000 Cash----$30,000 Sales----$500.000 Inventory----$72,000 Cost of Goods Sold----$300,000 Equipment----$150.000 Operating Expenses----$155.000 Land/Building----5625,000 What is the amount of Quick Assets? O a. $205,000 O b. $203,000 O c. $131,000 O d. $ 66,000
stTes Exercise #4 : Análins de los Estados Fin oras (10 PUNTOS **Presente todos sus caleulos para llegar al reanltzdo CADA UNO) Accounts payable Accounts receivable Accrued liabilities Cash Intangible assets Irventory Long-term investments Long-term liabilities Marketable securities Notes payable (short-term) Property, plant, and equipmient Prepaid expenses 3 40,000 65,000 7,000 30,000 40,000 72,000 110,000 75,000 36,000 30,000 625,000 2,000 1. Based on the above data, what is the amount of quick assets? 2 $205,000 b. $203,000 c. 3131,000 d....
Notes Payable--$105.000 Marketable securities--$36.000 Prepaid Expenses----$2.000 Sales---$500,000 Cost of Goods Sold---$300,000 Operating Expenses----$155,000 Accounts Payable---$40,000 Accounts Receivable---$65,000 Accrued Liabilities----$38,000 Cash----$30.000 Inventory----$72,000 Equipment----$150,000 Land/Building----$625,000 What is the amount of Quick Assets? O a. $205,000 O b. $203.000 O c. $131,000 O d. $ 66,000
Marketable securities-$36.000 Accounts Receivable- $65,000 Prepaid Expenses--$2,000 Accrued Liabilities-$38,000 Sales-$500,000 Cash-$30,000 Inventory-$72,000 Cost of Goods Sold--$300,000 Operating Expenses-$155,000 Equipment-$150,000 Land/Building--$625.000 What is the amount of Quick Assets? O a. $205,000 O b. $203,000 O c. $131,000 d. $ 66,000 QUESTION 22 What is the Current Ratio? a. 1.12 times b. 2.63 times c. 4.50 times d. 5.12 times QUESTION 23 What is the Working Capital? a. $127,000 b. $115,000 c. $110,000 d. S 98,000 QUESTION 24 What is the Profit...
21. Based on the above data, what is the quick ratio, rounded to one decimal point? a. 2.4 b. 3.4 c. 2.1 d. 1.5 Accounts payable $ 30,000 Accounts receivable 65,000 Accrued liabilities 7,000 Cash 20,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 100,000 Long-term liabilities 75,000 Marketable securities 36,000 Notes payable (short-term) 20,000 Property, plant, and equipment 625,000 Prepaid expenses 2,000
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