Current Position Analysis The following data were taken from the balance sheet of Albertini Company at the end of two recent fiscal years: Current assets: Cash Marketable securities Accounts and notes receivable (net) Prepaid expenses Current liabilities: Accounts and notes payable Inventories 1,093,000 Accrued liabilities Current Year $445,700 516,100 3. Quick ratio 211,200 563,000 Total current assets (short- term) 289,800 Total current liabilities 1. Working capital 2. Current ratio $2,829,000 $400,200 $690,000 Previous Year $360,000 405,000 135,000 732,000 468,000 180,000 $2,100,000 $420,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year $600,000

Current Position Analysis The following data were taken from the balance sheet of Albertini Company at the end of two recent fiscal years: Current assets: Cash Marketable securities Accounts and notes receivable (net) Prepaid expenses Current liabilities: Accounts and notes payable Inventories 1,093,000 Accrued liabilities Current Year $445,700 516,100 3. Quick ratio 211,200 563,000 Total current assets (short- term) 289,800 Total current liabilities 1. Working capital 2. Current ratio $2,829,000 $400,200 $690,000 Previous Year $360,000 405,000 135,000 732,000 468,000 180,000 $2,100,000 $420,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Current Year $600,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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