For the FY 2018, Dorchester Company's balance sheet included the following current items: cash $51,000, accounts...

For the FY 2018, Dorchester Company's balance sheet included the following current items: cash $51,000, accounts receivable $138,000, inventories $91,000, prepaid expenses $21,000, accounts payable $72,000, and accrued expenses $68,000. Use this information to determine the Current Ratio. (Round & enter your answers to one decimal place.)Your answer :

For the FY 2018, Frederick Company had net sales of $1,150,000 and net income of $85,000, paid income taxes of $27,500, and had before tax interest expense of $20,000. Use this information to determine the Times Interest Earned Ratio. (Round your answers to one decimal place) Your Answer:

Expert Solution

Please find below table useful to compute desired results: -

ekkarill92 answered 1 year ago

Tamarisk Corporation’s balance sheet at the end of 2016 included the following items. Current assets (Cash...

Tamarisk Corporation’s balance sheet at the end of 2016 included the following items. Current assets (Cash $82,000) $236,770 Current liabilities $151,770 Land 32,190 Bonds payable 101,770 Buildings 121,770 Common stock 182,190 Equipment 92,190 Retained earnings 46,190 Accum. depr.-buildings (31,770 ) Total $481,920 Accum. depr.-equipment (11,000 ) Patents 41,770 Total $481,920 The following information is available for 2017. 1. Net income was $60,100. 2. Equipment (cost $21,770 and accumulated depreciation $9,770) was sold for $11,770. 3. Depreciation expense was $5,770 on...

The following items are reported on a company's balance sheet: Cash $292,600 Marketable securities 93,000 Accounts...

The following items are reported on a company's balance sheet: Cash $292,600 Marketable securities 93,000 Accounts receivable 251,700 Inventory 178,500 Accounts payable 318,800 Determine the (a) current ratio, and (b) quick ratio. Round your answers to one decimal place. a. Current ratio b. Quick ratio

The following items are reported on a company's balance sheet: Cash $247,900 Marketable securities 88,000 Accounts...

The following items are reported on a company's balance sheet: Cash $247,900 Marketable securities 88,000 Accounts receivable 261,900 Inventory 192,700 Accounts payable 278,100 Round your answers to two decimal places. a. Determine the current ratio. b. Determine the quick ratio.

The balance sheet accounts listed below are the only items on the company's balance sheet for...

The balance sheet accounts listed below are the only items on the company's balance sheet for each year and the income statement accounts are the only items on the company's income statement for each year. Item 2017 2018 Accounts payable 550 230 Accounts receivable 510 ? Accruals 1,000 1,100 Cash 300 550 Common Stock 2,000 2,250 Cost of goods sold 4,000 4,600 Depreciation expense 200 350 Interest expense 170 190 Inventory 3,000 3,250 Long term debt 1,500 1,650 Net fixed...

Which of the following items are included on the balance sheet?

the balance sheet is a snapshot of the entity. Which of the following items are included on the balance sheet?A.assetsB.RevemuesC.expensesD.withdrawls

Crane Company's balance sheet accounts as of December 31, 2018 and 2017 and information relating to...

Crane Company's balance sheet accounts as of December 31, 2018 and 2017 and information relating to 2018 activities are presented below. December 31, 2018 2017 Assets Cash $ 438000 $ 198000 Short-term investments 598000 — Accounts receivable (net) 1000000 1000000 Inventory 1360000 1180000 Long-term investments 398000 598000 Plant assets 3380000 1980000 Accumulated depreciation (898000) (898000) Patent 178000 198000 Total assets $6454000 $4256000 Liabilities and Stockholders' Equity Accounts payable and accrued liabilities $1640000...

Bradley-Link’s December 31, 2018, balance sheet included the following items: Long-Term Liabilities ($ in millions) 8.0%...

Bradley-Link’s December 31, 2018, balance sheet included the following items: Long-Term Liabilities ($ in millions) 8.0% convertible bonds, callable at 102 beginning in 2019, due 2022 (net of unamortized discount of $4) [note 8] $146 11.0% registered bonds callable at 105 beginning in 2028, due 2032 (net of unamortized discount of $1) [note 8] 54 Shareholders’ Equity 5 Equity—stock warrants Note 8: Bonds (in part) The 8.0% bonds were issued in 2005 at 96.0 to yield 10%. Interest is paid...

Bradley-Link’s December 31, 2018, balance sheet included the following items: Long-Term Liabilities ($ in millions) 9.0%...

Bradley-Link’s December 31, 2018, balance sheet included the following items: Long-Term Liabilities ($ in millions) 9.0% convertible bonds, callable at 104 beginning in 2019, due 2022 (net of unamortized discount of $3) [note 8] $197 11.0% registered bonds callable at 107 beginning in 2028, due 2032 (net of unamortized discount of $1) [note 8] 66 Shareholders’ Equity 6 Equity—stock warrants Note 8: Bonds (in part) The 9.0% bonds were issued in 2005 at 97.5 to yield 10%. Interest is paid...

Bradley-Link’s December 31, 2018, balance sheet included the following items: Long-Term Liabilities ($ in millions) 7.0%...

Bradley-Link’s December 31, 2018, balance sheet included the following items: Long-Term Liabilities ($ in millions) 7.0% convertible bonds, callable at 102 beginning in 2019, due 2022 (net of unamortized discount of $3) [note 8] $247 11.0% registered bonds callable at 105 beginning in 2028, due 2032 (net of unamortized discount of $1) [note 8] 56 Shareholders’ Equity 5 Equity—stock warrants Note 8: Bonds (in part) The 7.0% bonds were issued in 2005 at 98.0 to yield 10%. Interest is paid...

Bradley-Link’s December 31, 2018, balance sheet included the following items: Long-Term Liabilities ($ in millions) 11.0%...

Bradley-Link’s December 31, 2018, balance sheet included the following items: Long-Term Liabilities ($ in millions) 11.0% convertible bonds, callable at 104 beginning in 2019, due 2022 (net of unamortized discount of $7) [note 8] $293 11.0% registered bonds callable at 107 beginning in 2028, due 2032 (net of unamortized discount of $2) [note 8] 62 Shareholders’ Equity 8 Equity—stock warrants Note 8: Bonds (in part) The 11.0% bonds were issued in 2005 at 97.0 to yield 10%. Interest is paid...

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