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    Polytechnic State University Sanluis
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Category > Accounting Posted 02 May 2017 My Price 10.00

Free Spirit Industries Inc

 

Balance Sheet December 31st (Millions of Dollars)
 

Scramouche Opera Company

Free Spirit Industries Inc.

  

Scramouche Opera Company

Free Spirit Industries Inc.

Assets

    

Liabilities

    

Current Assets

    

Current liabilities

    

Cash

$287

$184

Accounts payable

$0

$0

Accounts                        Receivable

105

68

Accruals

63

0

Inventories

308

198

Notes Payable

359

337

Total Current Assets

700

450

Total current liabilities

422

337

Net Fixes Assets

    

Long-term bonds

515

413

Net Plant and Equipment

550

550

Total debt

937

750
     

Common equity

    
     

Common stock

203

163
     

Retained earnings

110

87
     

Total common equity

313

250

Total Assets

1,250

1,000

Total liabilities and equity

1,250

1,000

Free Spirit Industries Inc.Ac€?cs quick ratio is (0.93, 1.13, 0.75, 0.90), and its current ratio is (1.34, 2.83, 1.84, 2.54); Scramouche Opera CompanyAc€?cs quick ratio is (1.40, 1.12, 0.75, 0.93), and its current ratio is (1.66, 3.16, 2.86, 2.16).

Which of the following statements are true? Pick all that apply.

- Free Spirit Industries Inc. has less liquidity but also a greater reliance on outside cash flow to finance its short-term obligations than Scramouche Opera Company.

- If a companyAc€?cs current liabilities are increasing faster than its current assets, the companyAc€?cs liquidity position is weakening.

- An increase in the quick ratio over time usually means that the companyAc€?cs liquidity position is improving and that the company is managing its short-term assets well.

- Free Spirit Industries Inc. has a better ability to meet its short-term liabilities than Scamouche Opera Company.

- An increase in the current ratio over time always means that the companyAc€?cs liquidity position is improving.

 
 

Answers

Alpha Geek
(8)
Status NEW Posted 02 May 2017 11:05 AM My Price 10.00

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Attachments

file 1493723920-answer1.docx preview (292 words )
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