Calculate the current ratio for 3m for 2009

Assignment Help Cost Accounting
Reference no: EM13531892

3M Company reported the following financial data for 2009 and 2008 (in millions).

3M COMPANY

Balance Sheet (partial)

Current assets


2009

2008

Cash and cash equivalents

$ 3,040

$1,849

$1,849

Accounts receivable, net

3,250

3,195

3,195

Inventories

2,639

3,013

3,013

Other current assets

1,866

1,541

1,541

Total current assets

$10,795

$9,598

$9,598

Current liabilities

$ 4,897

$5,839

$5,839

Instructions

(a) Calculate the current ratio for 3M for 2009 and 2008.

(b) Suppose that at the end of 2009, 3M management used $300 million cash to pay off $300 million of accounts payable. How would its current ratio change?

Reference no: EM13531892

Questions Cloud

What is the objects mass at this height : A 125 object is taken to a height of 400 above the Earth's surface. What is the object's mass at this height? What is the object's weight at this height
Determine a linear combination of the orbitals a and b : Suppose that a molecular orbital has the form N(0.145A + 0.844B). Find a linear combination of the orbitals A and B that has zero overlap with this combination.
Hemophiliac and normal blood clotting : Assume you are a male. Your father was a hemophiliac and your mother had normal blood clotting and was not a carrier for thehemophilia trait. What does this make your genotype for this trait?
Determine what is the force constant of the spring : 2 kg block slides on a rough horizontal surface. the block hits a spring with a speed of 2.4 m/s and compresses it a distance of 11 cm before coming to rest. what is the force constant of the spring
Calculate the current ratio for 3m for 2009 : Calculate the current ratio for 3M for 2009 and 2008 and how would its current ratio change?
Write out a balanced net ionic equation : Write a balanced net ionic equation that occurs when the slightly soluble salt Mn(OH)2 (s) dissolves in water, forming aqueous ions.B. Calculate the molar solubility of Mn(OH)2 (Ksp = 2.0x10-13) in pure water.
Examples of organisms in domain prokaryotes : What are the main charactistics and the examples of organisms in domain  prokaryotes
Compute the values and provide a brief interpretation : Compute the values and provide a brief interpretation and working capital and current ratio.
Determine how far up the slope will the block get : A block is shoved up a 22 slope with an initial speed of 1.4 . The coefficient of kinetic friction is 0.70. How far up the slope will the block get

Reviews

Write a Review

Cost Accounting Questions & Answers

  Find the total expected cash collections

Wright Corporation began its operations on Sept-  Find the total cash collections are expected

  Prepare an incremental analysis

Prepare an incremental analysis whether the company should make or buy the electrical cords. (b) Will your answer be different if the released productive capacity will generate additional income of $5,000?

  Evaluate the price of the company''s stock

Evaluate the Price of the company's stock following the stock split.

  What is a cost or benefit analysis

What is a cost/benefit analysis. What is its purpose? List some elements that are generally included in the costs, and some that are generally included in the benefits.

  Prepare a cash budget statement of cash flows

Prepare a budgeted income statement, under absorption costing for Mile-High for the months of April, May and June assuming that Mile High opts to use the variable delivery service. Include supporting schedules to support the revenues and manufactu..

  Why depreciation is based on the revalued amount

The plant and machinery account of ABC limited as at 1/1/03 stood at sh. 5,000,000. The-accumulated depreciation as at that date is Ksh. 2,000,000. On the same date the asset was revalued by Ksh, 2 000,000.

  Determine the 2011 balance sheet items

Determine the 2011 balance sheet items current assets and shareholders equity

  Pacific homecare has three bond issues outstanding all

pacific homecare has three bond issues outstanding. all three bonds pay 100 in annual interest plus 1000 at maturity.

  Why is a code of conduct important

In the long run, many agencies will adopt an automated tool to assist in the documentation, testing and evaluation of internal control. Why is that?

  Bonanza trading stamps inc was formed untimely this year to

bonanza trading stamps inc. was formed untimely this year to sell trading stamps throughout the southwest to retailers

  Compute lateshas marginal-average and effective tax rates

1) The profession of tax practice involves four principal areas of activity. Discuss these four areas. 2) Tax Rates. Latesha, a single taxpayer, had the following income and deductions for the tax year 2013: INCOME: Salary $60,000 Business Income 25,..

  Costing system support management decision making

What are the primary documents supporting a job order costing system and what purposes are served by each of them and how does information from a job order costing system support management decision making?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd