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Do Homework - ashley thompson - Microsoft Edge - 0 X A mathcl.com/student/PlayerHomework.aspx?homeworkid=442144702¿ionid;=1&flushed;=true&ucid;=45355338centerwin=yes ACCT 2013-26W Fall 17 ashley thompson | 11/917 10:54 PM Save Homework: Unit 3 Project Score: 50.19 of 60 pts 1 of 1 (1 complete) -> Hw Score: 83.65%, 50.19 of 60 pts O Reference O Reference - X elp o Weed Od Follow total Wee Ones Washer–Laguna Balance sheet December 31, 2018 Assets Buin, total $ 2,150, DIDO 712,000 1,438,000 Requi a. Liqu For ea ad Current Assels. Cash Petty Cash Accounts Receivable Less. Allowance for Bad Debts Merchandise Inventory Office Supplies Prepaid Insurance Interest Receivable Notes Receivable Total Current Assets Property. Plant, and Equipment: $ 830,032 200 $ 250,000 (12,500) 237,500 378,000 140 1,100 5,767 290,000 $ 1,743,739 Wee Ones Washer–Laguna Income Statement Year Ended December 31, 2018 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses. Franchise Fee Expense Salaries Expense Utilities Expense Insurance Expense Supplies Expense Bad Debt Expense Bank Expense Credit Card Expense Depreciation Expense-Building Liquid 64,500 140,000 11,000 1,100 1,286 12,500 1,830 800 20,000 (11) Comm There Print Done Print Done Choose All parts showing Clear All Final Check O Type here to search au le 9 - 0 * 0° B D E, 1054 PM. E. " 11/N2017 F2Explanation / Answer
1-
current ratio
total of current assets/total of current liabilities
1743739/402500
4.332271
total of current assets
1743739
total of current liabilities
402500
2-
Acid test ratio
total of liquid assets/total of current liabilities
1364639/402500
3.390407
total of liquid assets = total of current assets-inventory-prepaid expenses
1743739-378000-1100
1364639
total of current liabilities
402500
3-
cash ratio
cash and cash equivalent/current liabilities
830232/402500
2.062688
cash and equivalent
830032+200
830232
total of current liabilities
402500
4-
Accounts receivables turnover ratio
sales/accounts receivables
2150000/237500
9.052632
sales
2150000
accounts receivables
237500
5-
days sales in receivables
365/accounts receivables turnover
365/9.0526
40.31991
Accounts receivables turnover ratio
9.052632
6-
Asset turnover ratio
total sales/total asset
2150000/2595839
0.828249
total sales
2150000
total of assets
2595839
1-
current ratio
total of current assets/total of current liabilities
1743739/402500
4.332271
total of current assets
1743739
total of current liabilities
402500
2-
Acid test ratio
total of liquid assets/total of current liabilities
1364639/402500
3.390407
total of liquid assets = total of current assets-inventory-prepaid expenses
1743739-378000-1100
1364639
total of current liabilities
402500
3-
cash ratio
cash and cash equivalent/current liabilities
830232/402500
2.062688
cash and equivalent
830032+200
830232
total of current liabilities
402500
4-
Accounts receivables turnover ratio
sales/accounts receivables
2150000/237500
9.052632
sales
2150000
accounts receivables
237500
5-
days sales in receivables
365/accounts receivables turnover
365/9.0526
40.31991
Accounts receivables turnover ratio
9.052632
6-
Asset turnover ratio
total sales/total asset
2150000/2595839
0.828249
total sales
2150000
total of assets
2595839
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