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Category > Accounting Posted 27 Sep 2017 My Price 9.00

Washington Corporation

Washington Corporation has the following financial data for 2013 and 2012.

 

2013

2012

ASSETS

    

Current Assets:

    

   Cash

37,000

9,000

   Marketable Securities

8,000

11,000

   Accounts Receivable

32,000

25,000

   Other Current Assets

13,000

10,000

       Total Current Assets

90,000

55,000

Fixed Assets (net)

135,000

120,000

TOTAL ASSETS

225,000

175,000
     

LIABILITIES

    

   Current Liabilities

71,000

40,000

   Long-term Liabilities

34,000

35,000

TOTAL LIABILITIES

105,000

75,000
     

TOTAL STOCKHOLDERSAc€?c EQUITY

120,000

100,000
     

TOTAL LIABILITIES AND STOCKHOLDERSAc€?c EQUITY       2013 --> 225,000     2012 --> 175,000

Based on WashingtonAc€?cs current ratio, which of the following statements is true regarding the company?

   

A. WashingtonAc€?cs current ratio has increased, indicating that the company is in a more favorable position to obtain short-term credit than in 2012.
   

B. WashingtonAc€?cs current ratio has decreased, indicating that the company is in a less favorable position to obtain short-term credit than in 2012.
   

C. WashingtonAc€?cs current ratio has increased, indicating that the company is in a less favorable position to obtain short-term credit than in 2012.
   

D. WashingtonAc€?cs current ratio has decreased, indicating that the company is in a more favorable position to obtain short-term credit than in 2012.
 
 
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Answers

Maurice Tutor
(5)
Status NEW Posted 27 Sep 2017 09:09 PM My Price 9.00

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