Question
In: Finance
you are evaluating the balance sheet for Patty casecorporation from the balance sheet you find...
you are evaluating the balance sheet for Patty case corporation from the balance sheet you find the following balances cash and markable securities $370,000 account receivable $1,260,000 inventory equals 2,16,000 wages and taxes $530,000 and account payable equals 830, 000 and note payable equals 660,000 calculate Patty cakes current ratio calculate Patty's current quick ratio calculate Patty cakes cash ratio
Solutions
Expert Solution
| Cash and marketable securities | 370000 |
| Account receivable | 1260000 |
| Inventory | 216000 |
| Current assets | 1846000 |
| Wages and taxes | 530000 |
| Accounts payable | 830000 |
| Note payable | 660000 |
| Current liabilities | 2020000 |
| Current ratio = Current assets / Current liabilities = 1846000 / 2020000 = | 0.91 |
| Quick ratio = ( Current assets - Inventory ) / Current liabilities = ( 1846000 - 216000 ) / 2020000 = | 0.81 |
| Cash ratio = Cash and marketable securities / Current liabilities = 370000 / 2020000 = | 0.18 |
jeff jeffy answered 3 years agoRelated Solutions
You are evaluating the balance sheet for PattyCake’s Corporation. From the balance sheet you find the...
You are evaluating the balance sheet for PattyCake’s
Corporation. From the balance sheet you find the following
balances: cash and marketable securities = $420,000; accounts
receivable = $1,160,000; inventory = $2,060,000; accrued wages and
taxes = $480,000; accounts payable = $780,000; and notes payable =
$560,000.
Calculate PattyCakes’ current ratio. (Round your answer to 2
decimal places.)
Current ratio times
Calculate PattyCakes’ quick ratio. (Round your answer to 2
decimal places.)
Quick ratio times
Calculate PattyCakes’ cash ratio. (Round your...
You are evaluating the balance sheet for PattyCake’s Corporation. From the balance sheet you find the...
You are evaluating the balance sheet for PattyCake’s
Corporation. From the balance sheet you find the following
balances: cash and marketable securities = $410,000; accounts
receivable = $1,180,000; inventory = $2,080,000; accrued wages and
taxes = $490,000; accounts payable = $790,000; and notes payable =
$580,000.
Calculate PattyCakes’ current ratio. (Round your answer
to 2 decimal places.)
Calculate PattyCakes’ quick ratio. (Round your answer to
2 decimal places.)
Calculate PattyCakes’ cash ratio. (Round your answer to
2 decimal places.)
Maggie’s...
You are evaluating the balance sheet for PattyCake’s Corporation. From the balance sheet you find the...
You are evaluating the balance sheet for PattyCake’s
Corporation. From the balance sheet you find the following
balances: cash and marketable securities = $360,000; accounts
receivable = $1,280,000; inventory = $2,180,000; accrued wages and
taxes = $540,000; accounts payable = $840,000; and notes payable =
$680,000. Calculate PattyCakes’ current ratio. (Round your answer
to 2 decimal places.) Calculate PattyCakes’ quick ratio. (Round
your answer to 2 decimal places.) Calculate PattyCakes’ cash ratio.
(Round your answer to 2 decimal places.)
You are evaluating the balance sheet for National Nut Company. From the balance sheet you find...
You are evaluating the balance sheet for National Nut Company.
From the balance sheet you find the following balances: Cash and
marketable securities = $34,800, Accounts receivable = $118,600,
Inventory = $208,700, Fixed plant and equipment = $400,000, Accrued
wages and taxes = $58,600, Accounts payable = $96,100, notes
payable (short-term) = $135,000 and long-term debt = $255,000.
Calculate net working capital for National Nut Company. (Note: Like
many questions on the assignment, not all of the information listed
is...
Balance Sheet You are evaluating the balance sheet for Cypress Corporation. From the balance sheet you...
Balance Sheet You are evaluating the balance
sheet for Cypress Corporation. From the balance sheet you find the
following balances: Cash and marketable securities = $630,000,
Accounts receivable = $830,000, Inventory = $530,000, Accrued wages
and taxes = $71,000, Accounts payable = $203,000, and Notes payable
= $1,030,000. What is Cypress's net working capital?
1. You are evaluating the balance sheet for Goodman's Bees Corporation. From the balance sheet you...
1. You are evaluating the balance sheet for Goodman's Bees
Corporation. From the balance sheet you find the following
balances: cash and marketable securities = $500,000, accounts
receivable = $1,000,000, inventory = $1,500,000, accrued wages and
taxes = $510,000, accounts payable = $810,000, and notes payable =
$610,000.
Calculate Goodman Bees' net working capital.
2.
Ramakrishnan, Inc. reported 2018 net income of $35 million and
depreciation of $2,850,000. The top part of Ramakrishnan, Inc.’s
2018 and 2017 balance sheets is...
If you were evaluating the credit worthiness of a business and presented with their balance sheet...
If you were evaluating the credit worthiness of a business and
presented with their balance sheet with working capital of
$1,000,000 and $750,000 of the business's current assets were Due
from Affiliates, what questions would you ask the CFO and or owner
of the business?
P2-3 Recording Transactions in T-Accounts, Preparing the Balance Sheet from a Trial Balance, and Evaluating the...
P2-3 Recording Transactions in T-Accounts, Preparing the Balance
Sheet from a Trial Balance, and Evaluating the Current Ratio LO2-2,
2-4, 2-5 Cougar Plastics Company has been operating for three
years. At December 31, 2014, the accounting records reflected the
following: Cash $ 22,000 Accounts payable $ 15,000
Investments (short-term) 3,000 Accrued liabilities
payable 4,000 Accounts receivable 3,000 Notes payable
(short-term) 7,000 Inventory 20,000 Long-term notes
payable 47,000 Notes receivable (long-term) 1,000
Common stock 10,000 Equipment 50,000 Additional paid-in
capital 80,000...
You are examining a company's balance sheet and find that it has total assets of $21,156,...
You are examining a company's balance sheet and find that it has
total assets of $21,156, a cash balance of $2,424, inventory of
$5,169, current liabilities of $6,341 and accounts receivable of
$2,935. What is the company's net working capital?
Multiple Choice
$4,187
$1,763
$982
$6,151
$14,815
(Preparing a balance sheet) Prepare a balance sheet from the information in the popup window, ....
(Preparing
a balance
sheet)
Prepare a balance sheet from the information in the popup
window,
. What are the networking capital and debt ratio? Complete the
part of the balance sheet below. (Round to the nearest
dollar.
NOTE:
Input the Accumulated depreciation account as a negative
value.)
Balance Sheet
ASSETS
Cash
$
Total current assets
$
$
Net fixed assets
$
Total assets
$
Choose from any list or enter any number in the input fields and
then click Check...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Nowadays, many firms have become or more striving to become learning organizations.Discuss why firms recognize this...
- What did you find most interesting and why in medical billing coding? What was the most...
- 1. what makes the products you find at a health food store(fairway market) different from the...
- I want to take COMPTIA SECURITY+ EXAMS. ANY RELIABLE DUMPS RESOURCE THAT GUARANTEE A 100% PASS...
- In 2000 words : Discus how the fourth industrial revolution could impact on improving electricity sector...
- Please write 600 to 800 words to answer the following questions: What is Economics? Why Study...
- A city orders a new computer for its General Fund at an anticipated cost of $95,100....
ADVERTISEMENT