C i Secure https//newco nnect.html Ch 13 Ex 13-76 1 Assets $36,866 42,667 $ 44,8
ID: 2552629 • Letter: C
Question
C i Secure https//newco nnect.html Ch 13 Ex 13-76 1 Assets $36,866 42,667 $ 44,889 103,676 73,928 134,344 12,107 11,536 net 98,667 60,660 4,889 331,674 306,544 263,284 $ 618,667 533,334 $. 431 ,see ise inventory Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by 10 points 150,967 89,232 $ 56,388 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 117,472 123,893 94,488 162,500 162,500 162,500 187,728 157,789118,284 s 618,667 $ 533,334 $ 431,59 Hint Print 1. Compute the current ratio for the year ended 2017, 2016, and 2015 2. Compute the acid-test ratio for the year ended 2017, 2016, and 2015. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the current ratio for the years ended December 31, 2017, 2016, and 2015.Explanation / Answer
Required 1 Year Choose Numerator / Choose Denominator = Current ratio Current Assets / Current liabilities = Current ratio 2017 $ 286,993 / $ 150,967 = 1.90 to 1 2016 $ 226,790 / $ 89,232 = 2.54 to 1 2015 $ 168,216 / $ 56,388 = 2.98 to 1 Current Assets=Total assets-Plant assets Required 2 Year Choose Numerator / Choose Denominator = Acid test ratio Current Assets-Inventories / Current liabilities = Acid test ratio 2017 $ 152,649 / $ 150,967 = 1.01 to 1 2016 $ 128,123 / $ 89,232 = 1.44 to 1 2015 $ 107,556 / $ 56,388 = 1.91 to 1
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.