ACC 205 Week 5 Assignment - Ashford Un Guida We LISTEN TO AUDIO\/VIDEO EXPLAINING THE GUIDANCE REPORT Account to be changed Ch 9 Ex 3 Edison Cash Stagg

ACC 205 Week 5 Assignment - Ashford Un Guida We LISTEN TO...

This preview shows page 1 - 4 out of 28 pages.

As Edison Cash $4,000 Stagg Cash $2,500 Thornton Cash $1,000 Questions Edison Current ratio 4.67 Quick ratio 3.33 Stagg Current ratio 4.67 Quick ratio 3.06 Thornton Current ratio 4.67 Quick ratio 2.78 LISTEN TO AUDIO/VIDEO EXPLAINING THE GUIDA Account to be changed Original Amount Ch 9 Ex 3 YOUR ANSWERS BASED UPON COURSE START DATE Compute the current and quick ratios for each of the three companies. (Round calculations to two decimal places.) Which firm is the most liquid? Why?
20X5 20X4Net Credit Sales $832,000 $760,000 Cost of Goods Sold 440,000350,000QuestionsSuppose Thornton is using FIFO for inventory valuation and Edison is using LIFO. Comment on the comparability of information between these two companies.If all short-term notes payable are due on July 11 at 8 a.m., comment on each company's ability to settle its obligation in a timely manner.Edison, Stagg and Thorton all have sufficient cash to meet the obligation.Account tobe changedOriginalAmountCh 9 Ex 4YOUR ANSWERS BASED UPON COURSE START DATEThe company is planning to borrow $300,000 via a 90-day bank loan to cover short-term operating needs.a. Compute the accounts-receivable and inventory-turnover ratios for 20X5

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture