CourseLover

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Teaching Since: May 2017
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  • MCS,MBA(IT), Pursuing PHD
    Devry University
    Sep-2004 - Aug-2010

Experience

  • Assistant Financial Analyst
    NatSteel Holdings Pte Ltd
    Aug-2007 - Jul-2017

Category > Accounting Posted 07 Dec 2017 My Price 10.00

Data pertaining to the current position of the J Company

Data pertaining to the current position of the J Company are as follows:

Cash $80,000

Temporary Investments 160,000

Accounts/Notes Receivables (net) 235,000

Inventories 190,000

Prepaid Expenses 10,000

Accounts Payable 158,000

Notes Payable (short term) 80,000

Accrued Expenses 12,000

 

1) Compute (a) the working capital (b) the current ratio, and (c) the quick ratio.  Round to one decimal place.

 

2) Compute the working capital, current ratio, and quick ratio after each of the following transactions.  CONSIDER EACH TRANSACTION SEPERATELY and that only THE TRANSACTION AFFETS the data given above. Round to one decimal place:

A) Sold temporary investment at no gain or loss, $35,000

B) Paid accounts payable, $40,000

C) Purchased goods on account, $75,000

D) Paid notes payable, $30,000

E) Declared a cash dividend, $15,000

F) Declared a common stock dividend on common stock, $32,000

G) Borrowed cash on a long term note, $150,000

H) Received cash on account, $175,000

I) Paid cash prepaid expenses, $10,000

Answers

CourseLover
(12)
Status NEW Posted 07 Dec 2017 06:12 AM My Price 10.00

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