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    Polytechnic State University Sanluis
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Category > Accounting Posted 14 May 2017 My Price 7.00

For Sutton Manufacturine determine the current ratio

For Sutton Manufacturing, determine the current ratio and the acid-test ratio. Are these values acceptable? Why or why not?
Sutton Manufacturing Balance Sheet Data (Thousands)
Assets Liabilities
Current assets Current liabilities
Cash $870 Notes payable $500
Account 450 Accounts payable 600
Receivable
Inventory 1200 Accruals 200
Prepaid expenses 50 Taxes payable 30
Other expenses 10 Current portion 100
Long-term debt - 
Total current assets 2670 Total current 1430
Liabilities
Long-term debt 2000
Officer debt 200
Net fixed assets (subordinated) -
Land 1200 Total liabilities 3630
Plant and 2800
Equipment
Common stock 1670
Notes receivable 200 Capital surplus 400
Intangibles 20 Retained earnings 1200
Other assets -100 Total net worth 3-270
Total assets 6900 Total liabilities 6900
and net Worth
 
 
 

 

Answers

Alpha Geek
(8)
Status NEW Posted 14 May 2017 06:05 PM My Price 7.00

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Attachments

file 1494786165-363973_1_636302626951233738_Liquidity-ratios.xlsx preview (157 words )
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