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| Statement of Financial Position | |||
| Assets | 2018 | 2017 | |
| Cash | 60,000.00 | 53,000.00 | |
| Short term investments | 30,000.00 | - | |
| Net Accounts Receivable | 146,000.00 | 132,000.00 | |
| Merchandise Inventory | 277,000.00 | 252,000.00 | |
| Total Current Assets | 513,000.00 | 437,000.00 | |
| Total Assets | 495,000.00 | 535,000.00 | |
| Liabilities & Stockholders' Equity | |||
| Liabilities | 2018 | 2017 | |
| Current Liabilities | 265,000.00 | 202,000.00 | |
| Long Term Liabilities | 44,000.00 | 56,000.00 | |
| Total Liabilities | 309,000.00 | 258,000.00 | |
| Stockholders' Equity | 186,000.00 | 277,000.00 | This is total assets less total liabilities |
| Total Liabilities & Stockholders' Equity | 495,000.00 | 535,000.00 | |
| Quick Assets | 2018 | 2017 | |
| Cash | 60,000.00 | 53,000.00 | |
| Short term investments | 30,000.00 | - | |
| Accounts Receivable | 146,000.00 | 132,000.00 | |
| Total Quick Assets | 236,000.00 | 185,000.00 | |
| Cash Assets | 2018 | 2017 | |
| Cash | 60,000.00 | 53,000.00 | |
| Short term investments | 30,000.00 | - | |
| Total Cash Assets | 90,000.00 | 53,000.00 |
| Final Answer | 2018 | 2017 | Comments |
| Current Ratio | |||
| Current Assets/Current Liabilities | 1.94 | 2.16 | Current Ratio has decreased. It means company's ability to pay off its current liabilities has decreased. |
| Cash Ratio | |||
| Cash Assets/Current Liabilities | 0.34 | 0.26 | Cash Ratio has increased. It means company's ability to maintain cash assets to pay off its current liabilities has increased. |
| Quick Ratio | |||
| Quick Assets/Current Liabilities | 0.89 | 0.92 | Quick Ratio has decreased. It means company's ability to pay off its current liabilities has decreased. |
| Debt Ratio | |||
| Total Liabilities/ Total Assets | 0.62 | 0.48 | Debt Ratio has increased. It means company's assets has reduced in proportion to its debt which may hamper its ability to pay off its total liabilities in future. |
| Debt to Equity Ratio | |||
| Total Liabilities/ Total Equity | 1.66 | 0.93 | Debt to equity ratio has increased. It means company's equity has reduced in proportion to its debt which may hamper its ability to pay off its total liabilities in future. |
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2018 2017 Cash Short-term Investments Net Accounts Receivables Merchandise Inventory Total Assets 60,000 $ 53,000 30,000...
CULLUMBER COMPANY Balance Sheets December 31 Assets Cash Debt investments (short-term) Accounts receivable Inventory Prepaid expenses Land Building and equipment (net) Total assets Liabilities...
CULLUMBER COMPANY Balance Sheets December 31 Assets Cash Debt investments (short-term) Accounts receivable Inventory Prepaid expenses Land Building and equipment (net) Total assets Liabilities and Stockholders' Equity Notes payable Accounts payable Accrued liabilities Bonds payable, due 2017 Common stock, $10 par Retained earnings 2017 2016 69,000 69,000 41,000 103,000 92,000 239,000 164,000 25,000 29,000 132,000 132,000 263,000 188,000 $884,000 $715,000 53,000 $170,000 $101,000 66,000 54,000 42,000 251,000 170,000 205,000 205,000 150,000 143,000 Total liabilities and stockholders' equity $884,000 $715,000 42,000...
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Cash $20,000 Accounts Receivable, Net 81,000 Merchandise Inventory 186,000 Total Assets 635,000 Accounts Payable 99,000 Accrued Liabilities 41,000 Short-term Notes Payable 48,000 Long-term Liabilities 224,000 Net Income 71,000 Common Shares Outstanding 10,000 1. Compute Road Trip's current ratio, debt ratio, and earnings per share. Round all ratios to two decimal places. 2. Compute the three ratios after evaluating the effect of each transaction that follows. Consider each transaction separately. a. Purchased merchandise inventory of $46,000 on account. b. Borrowed $122,000...
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W E15-19 (similar to) Question Help Big Time Photo Shop has asked you to determine whether the company's ability to pay current liabilities and total liabilities improved or deteriorated during 2018. To answer this question, you gather the following data: (Click the icon to view the data.) Read the requirements. a. Compute the current ratios for 2018 and 2017. Begin by selecting the formula to compute the current ratio. Current ratio = Total current assets/Total current liabilities i Requirements Now,...
Assets 2017 2018 2018 Current assets Cash Accounts receivable Inventory $ 24,236 14,348 27,892 $ 26,000 17,100 29.000 $ 72,100 Liabilities and Owners' Equity 2017 Current liabilities Accounts payable $ 25,084 Notes payable 19,000 Other 13,471 $ 29,000 12,700 18,300 Total $ 66,476 Total $ 57,555 $ 60,000 $ 87,698 Long-term debt $ 88,000 S 45.000 Owners' equity Common stock and paid-in surplus Accumulated retained earnings $ 45,000 219,616 244,302 Fixed assets Net plant and equipment $343,695 $364 900 Total...
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