Ace Industries has current assets equal to $9 million. The company's current ratio is 2.5, and its quick ratio is 2.1. What is the firm's level of current liabilities? What is the firm's level of inventories? Do not round intermediate calculations. Round your answers to the nearest dollar. Current liabilities: $ Inventories: $

Ace Industries has current assets equal to $9 million. The company's current ratio is 2.5, and its quick ratio is 2.1. What is the firm's level of current liabilities? What is the firm's level of inventories? Do not round intermediate calculations. Round your answers to the nearest dollar. Current liabilities: $ Inventories: $

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 7P: Ace Industries has current assets equal to 3 million. The companys current ratio is 1.5, and its...

See similar textbooks

Similar questions

Ace Industries has current assets equal to 3 million. The companys current ratio is 1.5, and its quick ratio is 1.0. What is the firms level of current liabilities? What is the firms level of inventories?
Ace Industries has current assets equal to $3 million. The company's current ratio is 1.5, and its quick ratio is 1.1. What is the firm's level of current liabilities? What is the firm's level of inventories? Do not round intermediate calculations. Round your answers to the nearest dollar. Current liabilities: $ Inventories: $
Ace Industries has current assets equal to $4 million. The company's current ratio is 2.0, and its quick ratio is 1.7. What is the firm's level of current liabilities? What is the firm's level of inventories? Do not round intermediate calculations. Round your answers to the nearest dollar. Current Liabilities $ Inventory $
Ace Industries has current assets equal to $3 million. The company’s current ratio is 1.5, and its quick ratio is 1.0. What is the firm’s level of currentliabilities? What is the firm’s level of inventories?
What is the amount of current liabilities?
PAGGYTY Industries has current assets equal to $4 million. The company's current ratio is 2.0, and its quick ratio is 1.7. What is the firm's level of current liabilities?
Assume that the current ratio for Arch Company is 3.5, its acid-test ratio is 2.0, and its working capital is $360,000. Answer each of the following questions independently, always referring to the original information. Required: How much does the firm have in current liabilities? Note: Do not round intermediate calculations. If the only current assets shown on the balance sheet for Arch Company are Cash, Accounts Receivable, and Merchandise Inventory, how much does the firm have in Merchandise Inventory? Note: Do not round intermediate calculations. If the firm collects an account receivable of $119,000, what will its new current ratio and working capital be?
Cottler Ltd. has current. assets equal to $4.5 million. The company's current ratio is 1.25, and its quick ratio is 0.75. What is the firm's level of current liabilities in millions a. $3.6 b. $0.18 c. $2.4 d. $2.9
Ace Industries has current assets equal to $3 million. The company's current ratio is 1.5, and its quick ratio is 1.0. What is the firm's level of current liabilities?
Owe
Assume that the current ratio for Arch Company is 3.5, its acid-test ratio is 1.5, and its working capital is $330,000. Answer each of the following questions independently, always referring to the original information. Required: a. How much does the firm have in current liabilities? Note: Do not round intermediate calculations. b. If the only current assets shown on the balance sheet for Arch Company are Cash, Accounts Receivable, and Merchandise Inventory, how much does the firm have in Merchandise Inventory? Note: Do not round intermediate calculations. c. If the firm collects an account receivable of $101,000, what will its new current ratio and working capital be? Note: Round "Current ratio" to 1 decimal place. d. If the firm pays an account payable of $53,000, what will its new current ratio and working capital be? Note: Do not round intermediate calculations. Round "Current ratio" to 1 decimal place. e. If the firm sells inventory that was purchased for $50,000 at a cash price…
Assume that the current ratio for Arch Company is 2.5, its acid-test ratio is 1.5, and its working capital is $320,000. Answer each of the following questions independently, always referring to the original information. Required: a. How much does the firm have in current liabilities? (Do not round intermediate calculations.) b. If the only current assets shown on the balance sheet for Arch Company are Cash, Accounts Receivable, and Merchandise Inventory, how much does the firm have in Merchandise Inventory? (Do not round intermediate calculations.) c. If the firm collects an account receivable of $105,000, what will its new current ratio and working capital be? (Round "Current ratio" to 1 decimal place.) d. If the firm pays an account payable of $56,000, what will its new current ratio and working capital be? (Do not round intermediate calculations. Round "Current ratio" to 1 decimal place.) e. If the firm sells inventory that was purchased for $50,000 at a cash price of $61,000, what…