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
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You are evaluating the balance sheet for PattyCake’s
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decimal places.)
Current ratio times
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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
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Calculate PattyCakes’ current ratio. (Round your answer
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Calculate PattyCakes’ quick ratio. (Round your answer to
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Calculate PattyCakes’ cash ratio. (Round your answer to
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You are evaluating the balance sheet for PattyCake’s Corporation. From the balance sheet you find the...
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balances: cash and marketable securities = $360,000; accounts
receivable = $1,280,000; inventory = $2,180,000; accrued wages and
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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...
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