Problem C The following data are for Toy Company: December 31 Current Prior Prepaid expenses $34,500...

Problem C The following data are for Toy Company:

	December 31
	Current	Prior
Prepaid expenses	$34,500	$45,000
Accrued liabilities (short term)	210,000	186,000
Cash in Bank	1,095,000	975,000
Wages payable	-0-	37,500
Accounts payable	714,000	585,000
Merchandise inventory	1,342,500	1,437,000
Bonds payable, due in 2005	615,000	594,000
Marketable securities (short term)	217,500	147,000
Notes payable (due in six months)	300,000	195,000
Accounts receivable	907,500	870,000
Allowance for doubtful accounts	(72,000)	(57,000)
Cash flow from operating activities	192,000	180,000

Compute the amount of working capital at both year-end dates.
Compute the current ratio at both year-end dates.
Compute the acid-test ratio at both year-end dates.
Compute the cash flow liquidity ratio at both year-end dates.

Expert Solution

ekkarill92 answered 2 years ago

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