Maurice Tutor

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    Argosy University/ Phoniex University/
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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 20 Aug 2017 My Price 9.00

Gostkowski Company

Current position analysis

The following data were taken from the balance sheet of Gostkowski Company at the end of two recent fiscal   years:

 

 

 

Current Year Previous Year Cash $ 480,000 $ 392,000 Marketable securities 576,000 411,600 Accounts and notes receivable (net) 384,000 316,400 Inventories 408,000 333,200 Prepaid expenses 552,000 506,800 Total current assets $2,400,000 $1,960,000 Accounts and notes payable (short-term) $ 600,000 $ 525,000 Accrued liabilities 200,000 175,000 Total current liabilities $ 800,000 $ 700,000  

 

 

 

 

 

 

 

a.     Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place.

b.    What conclusions can be drawn from these data as to the company’s ability to meet its currently maturing debts?

Answers

Maurice Tutor
(5)
Status NEW Posted 20 Aug 2017 08:08 PM My Price 9.00

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