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Survey of Accounting (Available Titles Cengagenow)

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Problem 9-3 Name: Section: Score: 0% Answers are entered in the cells with gray backgrounds. Cells with non-gray backgrounds are protected and cannot be edited. A red asterisk (*) will appear in the row immediately to the right of an incorrect answer. 1. a. Working capital = Current assets - Current liabilities = - Working capital = b. Current ratio = Current assets Current liabilities Current ratio = Current ratio = c. Quick ratio = Quick assets Current liabilities Quick ratio = Quick ratio = 2. Working Current Quick Transaction Capital Ratio Ratio a. b. c. d. e. f. g. h. i. j. Instructions
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Problem 9-3 Name: SOLUTION Section: Score: See student sheet for student's score Scoring: ON Answers are entered in the cells with gray backgrounds. Cells with non-gray backgrounds are protected and cannot be edited.
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Unformatted text preview: A red asterisk (*) will appear in the row immediately to the right of an incorrect answer. 1. a. Working capital = Current assets-Current liabilities = $1,120,000 -$400,000 Working capital = $720,000 b. Current ratio = Current assets Current liabilities Current ratio = $1,120,000 $400,000 Current ratio = 2.8 c. Quick ratio = Quick assets Current liabilities Quick ratio = $720,000 $400,000 Quick ratio = 1.8 2. Working Current Quick Transaction Capital Ratio Ratio a. $720,000 2.8 1.8 b. 720,000 3.3 2.0 c. 720,000 2.6 1.6 d. 720,000 3.4 2.1 e. 640,000 2.3 1.5 f. 720,000 2.8 1.8 g. 920,000 3.3 2.3 h. 720,000 2.8 1.8 i. 1,120,000 3.8 2.8 j. 720,000 2.8 1.7 Instructions...
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