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In: Accounting
Balance Sheet Current assets Cash 1,050,000 Acc receivable not given Inventories 1,500,000 Fixed assets 4,280,000 TOTAL...
Balance Sheet Current assets Cash 1,050,000 Acc receivable not given Inventories 1,500,000 Fixed assets 4,280,000 TOTAL ASSETS 7,500,000 Current liabilities Acc payable not given Long-term debt 2,300,000 Common stock 600,000 Retained earnings 3,960,000 TOTAL LIAB and EQUITY 7,500,000 Income Statement Sales 22,500,000 Operating expense 18,680,000 EBIT 3,820,000 Interest expense 230,000 EBT 3,590,000 Taxes 1,436,000 Net income 2,154,000 What is the firm's quick ratio?
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| Quick Ratio | = | 2.69 | |
| Workings: | |||
| Assets : | |||
| Current Assets | |||
| Cash | $ 10,50,000 | ||
| Accounts receivable (balancing figure) | $ 6,70,000 | ||
| Inventories | $ 15,00,000 | ||
| Fixed assets | $ 42,80,000 | ||
| Total Assets | $ 75,00,000 | ||
| Current Liabilities | |||
| Account payable (balancing figure) | $ 6,40,000 | ||
| Long - term Liabilities | $ 23,00,000 | ||
| Common stock | $ 6,00,000 | ||
| Retained earnings | $ 39,60,000 | ||
| Total Liabilities and Stockholders Equity | $ 75,00,000 | ||
| Quick Assets: | |||
| Cash | = | $ 10,50,000 | |
| Accounts receivables | = | $ 6,70,000 | |
| Total | = | $ 17,20,000 | |
| Current Laibilities: | |||
| Accounts payables | = | $ 6,40,000 | |
| Total | = | $ 6,40,000 | |
| Quick Ratio | = | Quick Assets / Current Laibilities | |
| = | $1720000 / $640000 | ||
| = | 2.69 |
ekkarill92 answered 2 years agoRelated Solutions
Balance Sheet Current assets Cash 870,000 Acc receivable not given Inventories 1,050,000 Fixed assets 3,220,000 TOTAL...
Balance Sheet
Current assets
Cash 870,000
Acc receivable not given
Inventories 1,050,000
Fixed assets 3,220,000
TOTAL ASSETS 6,200,000
Current liabilities
Acc payable not given
Long-term debt 1,900,000
Common stock 680,000
Retained earnings 3,190,000
TOTAL LIAB and EQUITY 6,200,000
Income Statement
Sales 18,600,000
Operating expense 14,320,000
EBIT 4,280,000
Interest expense 266,000
EBT 4,014,000
Taxes 1,606,000
Net income 2,408,000
What is the firm's debt ratio?
30.65%
37.58%
62.42%
93.06%
89.03%
Balance Sheet Current assets Cash 870,000 Acc receivable not given Inventories 1,050,000 Fixed assets 3,220,000 TOTAL...
Balance Sheet
Current assets
Cash 870,000
Acc receivable not given
Inventories 1,050,000
Fixed assets 3,220,000
TOTAL ASSETS 6,200,000
Current liabilities
Acc payable not given
Long-term debt 1,900,000
Common stock 680,000
Retained earnings 3,190,000
TOTAL LIAB and EQUITY 6,200,000
Income Statement
Sales 18,600,000
Operating expense 14,320,000
EBIT 4,280,000
Interest expense 266,000
EBT 4,014,000
Taxes 1,606,000
Net income 2,408,000
What is the firm's quick ratio?
The Balance Sheet of the Illini as of 12/31/20X0: Assets Current Assets: Cash 1,500,000 Accounts receivable,...
The Balance Sheet of the Illini as of
12/31/20X0:
Assets
Current Assets:
Cash 1,500,000
Accounts receivable, net 18,000
Inventory 50,000
Total current assets 1,568,000
Equipment 90,000
Goodwill 20,000
Total assets $1,678,000
Liabilities and shareholders' equity
Shareholders' equity:
Common stock, 20,000 shares outstanding, $1 par 20,000
Additional paid-in capital 280,000
Retained earnings 1,378,000
Total shareholders' equity 1,678,000
Total liabilities and shareholders' equity 1,678,000
Note that all additional paid-in capital (APIC) sub accounts
(e.g., APIC-options and APIC-treasury stock), if any, are tracked...
The Balance Sheet of the Illini as of 12/31/20X0: Assets Current Assets: Cash 1,500,000 Accounts receivable,...
The Balance Sheet of the Illini as of
12/31/20X0:
Assets
Current Assets:
Cash 1,500,000
Accounts receivable, net 18,000
Inventory 50,000
Total current assets 1,568,000
Equipment 90,000
Goodwill 20,000
Total assets $1,678,000
Liabilities and shareholders' equity
Shareholders' equity:
Common stock, 20,000 shares outstanding, $1 par 20,000
Additional paid-in capital 280,000
Retained earnings 1,378,000
Total shareholders' equity 1,678,000
Total liabilities and shareholders' equity 1,678,000
Note that all additional paid-in capital (APIC) sub accounts
(e.g., APIC-options and APIC-treasury stock), if any, are tracked...
Illini Company, Inc. Balance Sheet as of 12/31/20X0 Assets Current Assets: Cash $1,500,000 Accounts receivable, net...
Illini Company, Inc.
Balance Sheet
as of 12/31/20X0
Assets
Current Assets:
Cash
$1,500,000
Accounts receivable, net
18,000
Inventory
50,000
Total current assets
1,568,000
Equipment
90,000
Goodwill
20,000
Total assets
$1,678,000
Liabilities and shareholders' equity
Shareholders' equity:
Common stock, 20,000 shares outstanding, $1 par
$20,000
Additional paid-in capital
280,000
Retained earnings
1,378,000
Total shareholders' equity
1,678,000
Total liabilities and shareholders' equity
$1,678,000
Note that all additional paid-in capital (APIC) sub accounts
(e.g., APIC-options...
Balance Sheet ASSETS Cash $96,000 Accounts receivable 31,000 Inventory 41,000 Prepaid expenses 18,000 Total current assets...
Balance Sheet
ASSETS
Cash
$96,000
Accounts receivable
31,000
Inventory
41,000
Prepaid expenses
18,000
Total current assets
$186,000
Gross plant and equipment
403,000
Accumulated depreciation
(69,000)
Total assets
$520,000
LIABILITIES AND OWNERS' EQUITY
Accounts payable
$89,000
Accrued liabilities
62,000
Total current liabilities
$151,000
Long-term debt
130,000
Common stock
206,000
Retained earnings
33,000
Total liabilities and equity
$520,000
Income Statement
Sales*
$211,000
Cost of goods sold
(85,000)
Gross profit
$126,000
Selling, general, and administrative expenses
(27,000)
Depreciation expenses
(28,000)
Operating income
$71,000...
Balance Sheet Assets: 12/31/19 Current Assets: Cash $3,000.00 Accounts Receivable 1,250.00 Prepaid Expenses $100.00 Total Current...
Balance Sheet
Assets: 12/31/19
Current Assets:
Cash $3,000.00
Accounts Receivable 1,250.00
Prepaid Expenses $100.00
Total Current Assets $4,350.00
Non-Current Assets:
Property, Plant, and Equipment
Land $10,000.00
Buildings 25,000.00
Equipment 15,000.00
Accumulated Depreciation $(12,000.00)
Total Property, Plant, and Equipment $38,000.00
Total Assets $42,350.00
Liabilities:
Current Liabilities
Accounts Payable $100.00
Accrued Expense 150.00
Salary and Wages Payable -
Notes Payable -
Unearned Revenue $1,500.00
Total Liabilities $1,750.00
Shareholder's Equity
Common Stock - $1 par (See Note Below) $15,000.00
Retained Earnings $25,600.00
Total...
Balance the budget sheet: Current Assets: Total Current Assets: Property and equipment: Other assets: Total Assets:...
Balance the budget sheet:
Current Assets:
Total Current Assets:
Property and equipment:
Other assets:
Total Assets:
Current liabilities:
Total Current Liabilities:
Total Liabilities:
Share holders equity
Total Liabilities & Share holders Equity:
Instructions: Please place the following items and amounts
in their correct locations on the balance sheet
Accounts
payable
$30,000
Accounts
receivable
$20,000
Investments
$10,000
Common
stock
$10,000
Additional paid-in capital
$20,000
Prepaid
expense
$4,000
Cash and
cash equivalents
$100,000
Deferred
revenue
$2,000
Notes
payable
$10,000
Inventory
$15,000
Retained...
Complete the following Balance Sheet ASSETS Current Assets Cash
Complete the following Balance
Sheet
ASSETS
Current
Assets
Cash
$ 250,000
Accounts
Receivable
($_________
less allowance for Doubtful
Accounts)
$1,320,000
Inventory
$1,410,000
Total Current
Assets
$_________
Land
$_________
Plant &
Equipment ($2,800,000 less
Accumulated Depreciation
________)
$2,110,000
TOTAL
ASSETS
$5,390,000
LIABILITIES AND
STOCKHOLDERS EQUITY
Current
Liabilities
Accounts
Payable
$ 620,000
Notes
Payable to
banks
$ 130,000
Accrued
Wages
$________
Total...
year 2016 current assets cash 8814 accounts receivable 22053 inventory 38422 total 69289 fixed assets net...
year 2016 current assets cash 8814 accounts receivable 22053
inventory 38422 total 69289 fixed assets net plant equipment 216790
total asset 286259 liabilities and owners equity current liability
accounts payable 42498 not payable 19064 total 61562 long term debt
25600 owners equity common stock and paid in surplus 39600
accumulated retain earnings 159497 total 199097 total liability and
owners equity 286259 finding common size
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