A company has current assets of $97,000 (of which $37,000 is inventory and prepaid items) and current liabilities of $37,000. a. What is the current ratio? b. What is the acid-test ratio? c. If the company borrows $17,000 cash from a bank on a 120-day loan, what will its current ratio be? d. What will the acid-test ratio be?

Find the following using the data bellow  a. Accounts receivable  B. Current assets  C. Total assets  D. Return on assets E. Common equity F. Quick ratio

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Identify the ratio that is relevant to answering each of the following questions.a. How much net income does the company earn from each dollar of sales?b. Is the company financed primarily by debt or equity?c. How many dollars of sales were generated for each dollar invested in fixed assets?d. How many days, on average, does it take the company to collect on credit sales made tocustomers?e. How much net income does the company earn for each dollar owners have invested in it?f. Does the company have sufficient assets to convert into cash for paying liabilities as theycome due in the upcoming year?

Credit Card of America (CCA) has a current ratio of 3.5 and a quick ratio of 3.0. If its total current assets equal $73,500, what are CCA’s (a)current liabilities and (b)inventory?

The current ratio: a. Is used to help assess a company's ability to pay its debts in the near future. b. Measures the effect of operating income on profit. c. Is used to measure the relationship between assets and long-term debt. d. Is used to measure a company's collection period.

-What is XYZ's current ratio on December 31, 2021? -What is XYZ's Accounts Receivables Turnover for 2021? (assume Accounts Receivable, net was $500,000 on December 31, 2020) -What is XYZ's Asset Turnover for 2021? (assume total assets were $14 million on December 31, 2020) Account Balance Data       Debit Credit Cash 217,650   Accounts Receivable 545,000   Interest Receivable 1,200   Allowance for Doubtful Accounts   8,450 Merchandise Inventory 778,000   Prepaid Insurance 30,000   Notes Receivable     Land 2,000,000   Office Building 4,000,000   Office Equipment 320,000   Store Building 9,000,000   Store Equipment 3,560,000   Accumulated Depreciation - office building and equipment   1,580,000 Accumulated Depreciation - store building and equipment   4,126,000 Goodwill 700,000

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