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DENIUS [597]
3 years ago
12

Blackwell Automotive’s balance sheet at the end of its most recent fiscal year shows the following information: Blackwell Automo

tive Balance Sheet as of March 31, 2013 Assets Liabilities and Equity Cash and marketable securities $18,940 Accounts payable and accruals $163,257 Accounts receivable 128,840 Notes payable 21,115 Inventories 228,937 Total current assets $376,717 Total current liabilities $184,372 Long-term debt 168,022 Total liabilities $352,394 Net plant and equipment 711,256 Common stock 313,299 Goodwill and other assets 89,879 Retained earnings 512,159 Total assets $1,177,852 Total liabilities and equity $1,177,852 In addition, it was reported that the firm had a net income of $412,000 on net sales of $4,240,000. a. What are the firm’s current ratio and quick ratio? (Round answers to 2 decimal places, e.g.15.25.) Current Ratio times Quick Ratio times
Business
1 answer:
rjkz [21]3 years ago
5 0

Answer:

Current Ratio is 2.04 times

Quick Ratio is 0.80 times

Explanation:

a. Current Ratio : The current ratio is that ratio which shows  relationship between current assets and current liabilities. It is computed to check the liquidity of the firm.

Current Ratio = Current Assets ÷ Current Liabilities

                      = $376,717 ÷ $184,372

                      = 2.04 times

Thus, the current ratio is 2.04 times

b. Quick Ratio : The Quick ratio is also check the liquidity of the company but while computing it does not include inventories.

Quick Ratio = (Current Assets - Stock) ÷ Current Liabilities

                   = ($376,717 - $228,937)  ÷ $184,372

                   = 0.80 times

Thus, the quick ratio is 0.80 times

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Answer:

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5. Todd has his home and personal property insured under a Homeowners 3 (special form) policy. The dwelling is insured for $120,
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Answer:

Explanation:

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Katrine doesn't understand all of the various aspects of automobile insurance and relies on her local independent State Farm Ins
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2 years ago
Dana has standard consumer preferences over two goods: hours spent watching football (W) and hours spent playing football (P). H
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Answer:

The correct option is Dana might be indifferent between C, A, and B.

Explanation:

Note: See the attached photo for the indifference curve showing points A, B and C.

The answer can be explained using an indifference curve.

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In the attached photo, bundles A, B and C are plotted as points on the same indifference curve (IC). Since points A, B and C are on the same IC, it therefore implies that Dana might be indifferent between C, A, and B.

Therefore, the correct option is Dana might be indifferent between C, A, and B.

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