Correct Mark 1000 out of 1000 Flag question Question text The following data

Correct mark 1000 out of 1000 flag question question

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Question 4CorrectMark 10.00 out of 10.00Flag questionQuestion textThe following data were abstracted from the 2014 December 31, balance sheet of Andrews Company: Cash $136,000 Marketable securities 64,000. Accounts and notes receivable, net 184,000. Merchandise inventory 244,000. Prepaid expenses 12,000. Accounts and notes payable, short-term 256,000. Short-term accrued liabilities 64,000. Bonds payable, long-term 400,000. The current ratio is: Select one:a. 1:2.b. 3:1.
c. 2:1. CorrectCorrect. Current assets: $136,000 + $64,000 + $184,000 + $244,000 + $12,000 = $640,000. Current liabilities: $256,000 + $64,000 = $320,000; Current ratio: $640,000/$320,000 = 2: 1d. 1.2:1.FeedbackThe correct answer is: 2:1. Question 5CorrectMark 10.00 out of 10.00Flag questionQuestion textThe following data were abstracted from the 2014 December 31, balance sheet of Andrews Company: Cash $136,000 Marketable securities 64,000. Accounts and notes receivable, net 184,000. Merchandise inventory 244,000. Prepaid expenses 12,000. Accounts and notes payable, short-term 256,000. Short-term accrued liabilities 64,000. Bonds payable, long-term 400,000. The acid-test ratio is: Question 6CorrectMark 10.00 out of 10.00Flag questionQuestion text
Benson Company shows the following data on its 2014 financial statements: Accounts receivable, January 1 $720,000; Accounts receivable, December 31 960,000; Merchandise inventory, January 1 900,000; Merchandise inventory, December 31 1,020,000; Gross sales 4,800,000; Sales returns and allowances 180,000; Net sales 4,620,000; Cost of goods sold 3,360,000; Income before interest and taxes 720,000; Interest on bonds 192,000; Net income 384,000; The accounts receivable turnover is: Question 7CorrectMark 10.00 out of 10.00Flag questionQuestion textBenson Company shows the following data on its 2014 financial statements: Accounts receivable, January 1 $720,000; Accounts receivable, December 31 960,000; Merchandise inventory, January 1 900,000; Merchandise inventory, December 31 1,020,000; Gross sales 4,800,000; Sales returns and allowances 180,000; Net sales 4,620,000; Cost of goods sold 3,360,000; Income before interest and taxes 720,000; Interest on bonds 192,000; Net income 384,000; The inventory turnover is:

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