Dana Industries has reported the following balance sheet accounts for year end 2009: Accounts Payable =...
Dana Industries has reported the following balance sheet accounts for year end 2009: Accounts Payable = $9,000, Other current liabilities = $7000, Long Term Debt = $40,000 Cash = $5,000, Accounts Receivable = $8,900, Inventories = $4,100, Fixed Assets $34,000, Common Stock = $25000. What was the current ratio for Dana Industries for 2009?
| A. |
.89 |
|
| B. |
1.125 |
|
| C. |
2 |
|
| D. |
2.57 |
|
| E. |
11.25 |
Homework Answers
Current Ratio = Current Assets/Current Liabilities
Current Assets = Cash + Accounts Receivables + Inventories
Current Assets = $5000 + $8900 + $4100 = $18,000
Current Liabilities = Accounts Payable + Other current liabilities
Current Liabilities = $9,000 + $7,000 = $16,000
Current Ratio = $18,000/$16,000 = 1.125
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Dana Industries has reported the following balance sheet
accounts for year end 2009: Accounts Payable =...
Dana Industries has reported the following balance sheet accounts for year end 20XX: Accounts Payable =$9,000,...
Dana Industries has reported the following balance sheet accounts for year end 20XX: Accounts Payable =$9,000, Other current liabilities = $7000, Long Term Debt = $40,000 Cash = $5,000, Accounts Receivable =$8,900, Inventories = $6,100, Fixed Assets $34,000, Common Stock = $25000. What was the current ratio for Dana Industries for 20XX?
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below.
HALLBROOK INDUSTRIES, INC.
Balance Sheet
December 31, 2021
($ in thousands)
Assets
Cash
$
290
Short-term investments
240
Accounts receivable
290
Inventory
380
Property, plant, and equipment (net)
1,900
Total assets
$
3,100
Liabilities and Shareholders’
Equity
Current liabilities
$
490
Long-term liabilities
440
Paid-in capital
1,200
Retained earnings
970
Total liabilities and shareholders’ equity
$
3,100
The company’s 2021 income statement reported the following amounts
($ in thousands):...
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The 2021 balance sheet for Hallbrook Industries, Inc., is shown
below.
HALLBROOK INDUSTRIES, INC.
Balance Sheet
December 31, 2021
($ in thousands)
Assets
Cash
$
290
Short-term investments
240
Accounts receivable
290
Inventory
380
Property, plant, and equipment (net)
1,900
Total assets
$
3,100
Liabilities and Shareholders’
Equity
Current liabilities
$
490
Long-term liabilities
440
Paid-in capital
1,200
Retained earnings
970
Total liabilities and shareholders’ equity
$
3,100
The company’s 2021 income statement reported the following amounts
($ in thousands):...
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