Determining the current ratio

Assignment Help Accounting Basics
Reference no: EM13136003

The finance managers of Long Bow, Inc. collected the following information for their firm: Total Assets = $60,000; Current Assets = $20,000; Long-term Liabilities = $200,000; Current Liabilities = $10,000. The Current Ratio = ___

Reference no: EM13136003

Questions Cloud

What are the cash flow effects : When a company uses the equity method to record its proportionate share of the income and dividends of a company in which it has invested, what are the cash flow effects?
Price of the bond on date of purchase : The market rate of interest for similar bonds was 10%. Interest is paid semiannually on March 31 and September 30. What is the price of the bond on date of purchase?
What percentage of the contribution margin is profit : What percentage of the contribution margin is profit on units sold in excess of the breakeven point?
Establishment clause-free exercise clause : Discuss the establishment clause and the free exercise clause and include any court cases dealing with these clauses. Civil liberties are at the heart of political culture in the U.S. Define civil liberties, and give six example of them. What are tw..
Determining the current ratio : The finance managers of Long Bow, Inc. collected the following information for their firm: Total Assets = $60,000; Current Assets = $20,000; Long-term Liabilities = $200,000; Current Liabilities = $10,000. The Current Ratio = ___
What is the boyle temperature of methane : The second virial coefficient of methane can be approximated by the empirical equation , where a = -0.1993 bar-1, b = 0.2002 bar-1, and c = 1131 K2 with 300 K
Research paper to critically evaluate the novel, ¡¡yo! : ulia Alvarez's novel ¡Yo! Write a 6-7 page research paper in which you critically evaluate the novel, ¡Yo!, on a structural or thematic level.
Construct the interval using mean and standard deviation : The sample mean and standard deviation are 20 days and 4 days, respectively. Using a confidence interval of 90%, construct the interval.
How much should it report as forrign income exhange loss : When Post Collected the receivable on February 15, 2012, the U.S. dolalr equivalent was $95,000. In PoST'S 2010 Consolidated income statement, how much should it report as forrign income exhange loss?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Qualitative considerations in capital investing

Qualitative considerations in capital investing analysis include:

  Total present value of the investment

The net present value of the investment, excluding the intangible benefits, is -$326,237. To the nearest whole dollar how large would the annual intangible benefit have to be to make the investment in the aircraft financially attractive?

  Prepare an income statement

Analyze the above information and prepare an income statement for the year 2012, starting with income from continuing operations before income tax. Compute earnings per share as it should be shown on the face of the income statement.

  Calculate red dpad for the current year

Red Corporation manufactures hand tools in the United States. For the current year, the QPAI derived from the manufacture of hand tools was $1 million. Red's taxable income for the current year was $1.5 million. Last year, Red had an NOL of $800,0..

  Processing costs to refine the basic compound

National expects the market for the new compound variant to be 57,000 gallons initially and determines that processing costs to refine the basic compound into the variant would be $72,800.

  Maximum amount of the stock redemption

The maximum amount of the stock redemption proceeds under Sec. 303 is determined by summing all of the following except

  Limitations of using financial statements to make decisions

How are the income statement and statement of cash flows used to make business decisions? What are the advantages and limitations of using them to make decisions affecting the future of a business?

  Report foreign currency on consolidated balance sheet

A Clarke Corporation subsidiary buys marketable equity securities and inventory on April 1, 2009, for 100,000 pesos each. It pays for both items on June 1, 2009

  What is the updated principal balance

Paris Company buys a building on a plot of land for $100,000, paying $20,000 cash and signing a 20-year mortgage note for $80,000 at 6%. Monthly payments are $570. The first monthly payment was made in January, 2013. After the first payment, what ..

  Distribution and taxed as a dividend

Last year, Loon sold an appreciated asset for $600,000 (basis of $200,000). Payment for one half of the sale of the asset was made this year. How much of Wendy's distribution will be taxed as a dividend?

  Prepare an income statement and compute earnings per share

A. Low Carb Diet Supplement, Inc. has two divisions. Division A has a profit of $100,000 on sales of $2,000,000. Division B is only able to make $25,000 on sales of $300,000. Based on the profit margins (returns on sales), which division is superior?

  Entries of subscription revenue

Prepare the entry in November for the receipt of the subscriptions. Prepare the adjusting entry at December 31, 2007, to record subscription revenue earned in December 2007. Prepare the adjusting entry at March 31, 2008, to record subscription revenu..

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