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Homework Answers
CURRENT RATIO
current ratio = Current assets / current liabilities
Current assets
- cash 59000
- accounts receivables 43000
- inventory 49000
- prepaid insurance 19000
total 170000
Current liabilities
- accounts payable 14000
- interest payable 4000
total 18000
CURRENT RATIO = 170000/18000 = 9.44
ACID TEST RATIO
acid test ratio = current assets - invetories / current liabilities
ACID TEST RATIO = 170000 - 49000 /18000
= 121000 / 18000
= 6.722
DEBT EQUITY RATIO
debt equity ratio = debt / equity
= short term debt +long term debt +other fixed payments /shareholder's equity
Debt
- accounts payable 14000
- interest payable 4000
- notes payable 140000
total 158000
Equity
- common stock 74000
- retained earnings 54000
total 128000
DEBT EQUITY RATIO = 158000/128000
= 1.234
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4 Brief Exercise 3-9 (Algo) Calculating ratios (LO3-8] 10 points The following is a December 31,...
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