Homework Answers
Answer is $58,000
Current Assets = $100,000
Current Liabilities = $42,000
Working Capital = Current Assets - Current Liabilities
Working Capital = $100,000 - $42,000
Working Capital = $58,000
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Question 1 0.65 If current assets are $100,000 and current liabilities are $42,000, what is the...
A firm's long-term assets = $100,000, total assets = $400,000, inventory = $50,000 and current liabilities...
A firm's long-term assets = $100,000, total assets = $400,000, inventory = $50,000 and current liabilities = $200,000. The industry average current ratio is 2.0 and quick ratio is 1.5. (3 points each) 7.1 What are the firm's current ratio and quick ratio? 7.2 What is the firm's liquidity position? 7.3 What is the firm's net working capital? 7.4 Why is working capital important to a business?
14 Moving to another question will save this response. Question 5 Current assets: Current liabilities: $...
14 Moving to another question will save this response. Question 5 Current assets: Current liabilities: $ 60 170 50 Cash Accounts receivable (net) Notes receivable Inventories Prepaid expenses Total current assets Plant assets (net) 200 25 505 255 Accounts payable Other liabilities Total current liabilities Noncurrent liabilities Total liabilities Shareholders' equity: Share capital Retained earnings Total shareholders' equity Total liabilities and equity $240 80 320 110 430 Total assets $760 180 330 $760 What is The current ratio is (rounded)...
Mike's Bikes has current assets of $58,000, current liabilities of $42,000 and a long-term note payable...
Mike's Bikes has current assets of $58,000, current liabilities of $42,000 and a long-term note payable of $18,000. Calculate their current ratio: O 1.38 0 724 0.967 Non-financial goals could include: 0 Increasing sales calls per day from 29-34. O Decreasing payroll costs by 6% over the next three periods. O Increasing sales by 5% in the next 4 months. Non-financial goals for a non-profit agency could include: O Meeting the budget numbers for a grant. O Serving 20,000 meals...
For the current year sales are $1,400,000, current assets are $101,524, and current liabilities are $85,265. If sales a...
For the current year sales are $1,400,000, current assets are $101,524, and current liabilities are $85,265. If sales are forecasted to increase 12% next year, and all current assets and current liabilities vary proportionally with sales (i.e. they are spontaneous items), what is the forecasted amount of net working capital next year? $16,259 $18,210 O $18,373 $18,535
1. current assets are $100,000 and current liabilities are $80,000. what is the current ratio? 2....
1. current assets are $100,000 and current liabilities are $80,000. what is the current ratio? 2. which of the following is considered a favorable change or trend? A. Decrease in inventory turnover B. Decrease in times interest earned C. Increase in debt ratio D. Increase in total assets turnover
At the beginning of the year, a firm has current assets of $16,200 and current liabilities...
At the beginning of the year, a firm has current assets of $16,200 and current liabilities of $13,280. At the end of the year, the current assets are $14,800 and the current liabilities are $14,210. What is the change in net working capital? ?$470 ?$50 $470 ?$2,330 $2,330
Working capital accounts are current assets and current liabilities. Of the 13 accounts listed in the...
Working capital accounts are current assets and current
liabilities.
Of the 13 accounts listed in the question, 7 are working capital
accounts, some involving an inflow of cash and some involving an
outflow of cash. Make a list of the 7 working capital accounts and
subdivide and subtotal your list into two categories, the number of
cash inflows and the number of cash outflows during the year. (Hint
- the grand total is a $12,000 outflow)
EXERCISE 4: WORKING CAPITAL...
1) How is working capital calculated? a. current assets * current liabilities b. current assets minus...
1) How is working capital calculated? a. current assets * current liabilities b. current assets minus current liabilities c. current assets plus current liabilities d. current assets / current liabilities 2) Which of the following evaluates data over a period of time? a. ratio analysis b. financial analysis c. vertical analysis d. horizontal analysis 3) Which of the following applies to ratio analysis? a. it uses financial statement data from the same accounts and compares it to different years b....
1. Which of these accounts would not be present in the closing entries? a. Dividends Payable b. Utilities Expense c. Fee...
1. Which of these accounts would not be present in the closing entries? a. Dividends Payable b. Utilities Expense c. Fees Earned Revenue d. Insurance Expense 2. Which account would be credited when closing the account for fees earned for the year? a. Income Summary b. Accounts Receivable c. Fees Earned Revenue d. Unearned Fee Revenue 3. Which of the following accounts is considered a temporary or nominal account? a. Fees Earned Revenue b. Prepaid Advertising c. Unearned Service Revenue...
Balance Sheet Assets Liabilities Current Assets Current Liabilities Cash. . . . . . . ....
Balance Sheet Assets Liabilities Current Assets Current Liabilities Cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50 Accounts payable. . . . . . . . . . . . . . . . . . . . . 37 Accounts receivable. . . . . . . . . . . . . . . . . ....
A firm's long-term assets = $100,000, total assets = $400,000, inventory = $50,000 and current liabilities = $200,000. The industry average current ratio is 2.0 and quick ratio is 1.5. (3 points each) 7.1 What are the firm's current ratio and quick ratio? 7.2 What is the firm's liquidity position? 7.3 What is the firm's net working capital? 7.4 Why is working capital important to a business?
14 Moving to another question will save this response. Question 5 Current assets: Current liabilities: $ 60 170 50 Cash Accounts receivable (net) Notes receivable Inventories Prepaid expenses Total current assets Plant assets (net) 200 25 505 255 Accounts payable Other liabilities Total current liabilities Noncurrent liabilities Total liabilities Shareholders' equity: Share capital Retained earnings Total shareholders' equity Total liabilities and equity $240 80 320 110 430 Total assets $760 180 330 $760 What is The current ratio is (rounded)...
Mike's Bikes has current assets of $58,000, current liabilities of $42,000 and a long-term note payable of $18,000. Calculate their current ratio: O 1.38 0 724 0.967 Non-financial goals could include: 0 Increasing sales calls per day from 29-34. O Decreasing payroll costs by 6% over the next three periods. O Increasing sales by 5% in the next 4 months. Non-financial goals for a non-profit agency could include: O Meeting the budget numbers for a grant. O Serving 20,000 meals...
For the current year sales are $1,400,000, current assets are $101,524, and current liabilities are $85,265. If sales are forecasted to increase 12% next year, and all current assets and current liabilities vary proportionally with sales (i.e. they are spontaneous items), what is the forecasted amount of net working capital next year? $16,259 $18,210 O $18,373 $18,535
Working capital accounts are current assets and current
liabilities.
Of the 13 accounts listed in the question, 7 are working capital
accounts, some involving an inflow of cash and some involving an
outflow of cash. Make a list of the 7 working capital accounts and
subdivide and subtotal your list into two categories, the number of
cash inflows and the number of cash outflows during the year. (Hint
- the grand total is a $12,000 outflow)
EXERCISE 4: WORKING CAPITAL...
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