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2 years ago

A company reported the following in its recent balance sheet:

Business

1 answer:

ycow [4]2 years ago

3 0

Answer:

Current Ratio = 186,748 / 36,169 = 5.16

Explanation:

The Balance Sheet is as it follows:

1. ASSET

1.1. CURRENT ASSET – 186,748

1.1.1. Cash 73,514

1.1.2. Accounts receivable 81,526

1.1.3. Inventories 26,006

1.1.4. Supplies 5,702

1.2. LONG-TERM ASSET

1.2.1. Property and equipment 156,028

TOTAL ASSET: 242,776

2. LIABILITIES

2.1. CURRENT LIABILITIES – 36,169

2.1.1. Accounts payable 19,397

2.1.2. Income tax payable 3,702

2.1.3. Wages payable 13,070

2.2. LONG-TERM LIABILITIES

2.2.1. Long-term liabilities 1,899

3. STOCKHOLDERS´EQUITY

3.1.1. Stockholders' Equity 204,708

TOTAL L + SE: 242,776

Current Ratio = Current Asset (CA) / Current Liabilities (CL)

Current Ratio = 186,748 / 36,169 = 5.16

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3 years ago

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3 years ago

Shawn Bixby borrowed $21,000 on a 120-day, 12% note. After 70 days, Shawn paid $2,400 on the note. On day 100, Shawn paid an add

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Answer:

Ending Balance Due = $14,980.106

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Explanation:

solution

Total Interest and Ending balance due by the U.S. Rule are as given below

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interest = 0.12 × 21000 × $\frac{70}{360}$

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payment = $2400 - $490

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3 years ago