Reference no: EM13258250
a. In 2004, The Coca-Cola Company reported current assets of$12,094 million, total assets of $31,327 million, currentliabilities of $10,971 million, and total liabilities of $15,392million. What was their current ratio for 2004?
The following is a partial list of account balances from thebooks of Probst Enterprise at the end of 2009:
| AccountsPayable |
$20,500 |
| AccountsReceivable |
12,300 |
| Accrued VacationLiability |
1,200 |
| Cash |
6,500 |
| DeferredRevenue |
1,300 |
| Income TaxesPayable |
1,900 |
| Notes Payable (due in 2years) |
10,000 |
b. Based solely upon thesebalances, the amount of current liabilities appearing onProbst's 2009 year-end balance sheet should be ?
c. Landry's Restaurants reported cost of goods sold of $322 million and accounts payable of $83 million for 2003. In2002, cost of goods sold was $258 million and accounts payable was $72 million. What was Landry's accounts payable turn over ratio in 2003?
d. On September 1, 2006, Donna Equipment signed a one-year, 8% interest-bearing note payable for $50,000. Assuming that Donna maintains its books on a calendar year basis, the amount of interest expense that should be reported in the 2007 income statement for this note (rounded to the nearest dollar) would be?