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SCORPION-xisa [38]
3 years ago
11

The most recent data from the annual balance sheets of N&B Equipment Company and Jing Foodstuffs Corporation are as follows:

Balance Sheet December 31st (Millions of dollars) Jing Foodstuffs Corporation N&B Equipment Company Jing Foodstuffs Corporation N&B Equipment Company Assets Liabilities Current assets Current liabilities Cash $574 $369 Accounts payable $0 $0 Accounts receivable 210 135 Accruals 127 0 Inventories 616 396 Notes payable 717 675 Total current assets $1,400 $900 Total current liabilities $844 $675 Net fixed assets Long-term bonds 1,031 825 Net plant and equipment 1,100 1,100 Total debt $1,875 $1,500 Common equity Common stock $406 $325 Retained earnings 219 175 Total common equity $625 $500 Total assets $2,500 $2,000 Total liabilities and equity $2,500 $2,000 N&B Equipment Company’s current ratio is , and its quick ratio is ; Jing Foodstuffs Corporation’s current ratio is , and its quick ratio is . Note: Round your values to four decimal places.
Business
1 answer:
lilavasa [31]3 years ago
8 0

Answer: N&B Equipment Company:

Current ratio = 1.33

Quick ratio = 0.746

Jing Foodstuffs Corporation:

Current ratio = 1.65

Quick ratio = 0.928

Explanation:

For N&B Equipment Company:

Current\ Ratio=\frac{Current\ Assets}{Current\ liabilities}

Current\ Ratio=\frac{900}{675}

                             = 1.33

Quick ratio=\frac{Current\ Assets - Inventory}{Current\ Liabilities}

Quick ratio=\frac{900 - 396}{675}

                        = 0.746

For Jing Foodstuffs Corporation:

Current\ Ratio=\frac{Current\ Assets}{Current\ liabilities}

Current\ Ratio=\frac{1,400}{844}

                             = 1.65

Quick ratio=\frac{Current\ Assets - Inventory}{Current\ Liabilities}

Quick ratio=\frac{1,400 - 616}{844}

                        = 0.928

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3 years ago
Duerr Company makes a $79,000, 30-day, 12% cash loan to Ryan Co. The note and interest to be collected at maturity is:
anzhelika [568]

Answer:

The maturity value is "$79790".

Explanation:

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Time

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Explanation:

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wlad13 [49]

Answer:

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