1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
What is an advantage of a sales force consisting of expatriate sales representatives?
Bas_tet [7]

Answer:

you loose sales

Explanation:

hope this helps

7 0
2 years ago
According to the value in diversity problem-solving approach A. surface-level diversity is less likely to lead to team cohesion
marshall27 [118]

Answer:

The correct answer is option E (diversity in teams is beneficial because it provides for a larger pool of knowledge from which a team can draw as it carries out its work).

Explanation:

Diversity in an organization/team is broad in its definition as it describes a group of individuals who are from different backgrounds, races, ages, education working for a common goal.

When we talk about surface-level diversity, then we are pointing at those visible differences such as sex, age. While Deep-level diversity is those characters that are not visible such as beliefs, likes, dislikes, temperament.

Diversity in teams is beneficial because team members would have diverse backgrounds, experiences, problem-solving capacities, exposures, bringing diverse solutions to the team which leads to good team performance, and a quick, better solution to problems.

3 0
3 years ago
According to the video, did the Federal Reserve pursue
zaharov [31]

Answer:

The Federal Reserve took an expansionary approach during the crisis. This was done by expanding the money supply and boosting liquidity. This can be seen in the Fed's actions of lending to banks, purchasing securities, and lowering the federal funds rate in order to lower overall interest rates. The Fed's goal was to increase consumer spending and overall liquidity within the system, and they pursued this by expanding the supply of liquid money.

Explanation:

5 0
3 years ago
Read 2 more answers
1. Identify the major competitors for the brand in Pakistan in clothing
Gala2k [10]

Explanation:

i hope you have find your answer

8 0
3 years ago
If the form of a will is made orally, and written down by a witness, how is it called?
kvv77 [185]
<span>If the form of a will is made orally, and written down by a witness, it is called </span>nuncupative (non-culpatory) - meaning oral or dictated; often limited to sailors or military personnel.
6 0
4 years ago
Other questions:
  • A consumer is reading a magazine with an advertisement, but due to a loud sound he is distracted from reading the advertisement
    6·1 answer
  • The Uniform Commercial Code states that any sample or model that is made part of the basis of the bargain creates an express war
    8·1 answer
  • A. Calculate the total estimated bad debts on the below information.
    11·1 answer
  • Statement on Standards for Tax Services No. 1 establishes as a basic principle of providing tax services that the CPA:
    13·1 answer
  • Elegance Inc. is a large cosmetics company that made an initial small investment in a start-up company, Peace Planet, which was
    13·1 answer
  • The concentration ratio provides a measure of the extent to which an industry Question 63 options: produces a useful product. is
    10·1 answer
  • The development of cotton and woolen mills in the mill cities of England, and later New England, caused tremendous sociological
    5·1 answer
  • Which one of the following statements related to the internal rate of return (IRR) is correct? Multiple Choice Financing type pr
    11·1 answer
  • Select the correct answer.
    10·1 answer
  • If Henry and Kate's Company has $300,000 of sales revenue, pays $50,000 in dividends, and has net income of $100,000, how much w
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!