has the following balance sheet (December 31, 2023). The figures are in $ million.CashShort-term investmentsAccounts receivableInventoryCurrent assetsGross fixed assetsAccumulated deprec.Net fixed assets$4030307017025050200Total assetsAccounts payableAccrualsNotes payable$370Current liabilitiesLong-term debtCommon stock (par value=$1)Retained earningsTotal common equityTotal liab. & equityNote that only 50% of "cash" (shown in the balance sheet above) is used in operation.$305010907030180210Use the above information to answer questions 88. What is its total operating capital for 2023? $240 m$370

Operating capital, also known as working capital, is the cash used for daily operations in a…

the following balance sheet (December 31, 2023). The figures are in 8 million. $30 50 Cash Short-term investments Accounts receivable Inventory Current assets Gross fixed assets Accumulated deprec. Net fixed assets $40 30 30 70 170 250 50 200 Accounts payable Accruals Notes payable $370 Current liabilities 10 90 Long-term debt Common stock (par value=$1) Retained earnings Total common equity Total assets Total liab. & equity Note that only 50% of "cash" (shown in the balance sheet above) is used in operation. Use the above information to answer questions 8 8. What is its total operating capital for 2023? $240 m 70 30 180 210 $370

the following balance sheet (December 31, 2023). The figures are in 8 million. $30 50 Cash Short-term investments Accounts receivable Inventory Current assets Gross fixed assets Accumulated deprec. Net fixed assets $40 30 30 70 170 250 50 200 Accounts payable Accruals Notes payable $370 Current liabilities 10 90 Long-term debt Common stock (par value=$1) Retained earnings Total common equity Total assets Total liab. & equity Note that only 50% of "cash" (shown in the balance sheet above) is used in operation. Use the above information to answer questions 8 8. What is its total operating capital for 2023? $240 m 70 30 180 210 $370

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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Use the table for the question(s) below. Consider the following balance sheet: Luther Corporation Consolidated Balance Sheet December 31, 2019 and 2018 (in $ millions) Assets 2019 2018 Liabilities and Stockholders' Equity 2019 2018 Current Assets Current Liabilities Cash 63.6 58.5 Accounts payable 87.6 73.5 Accounts receivable 55.5 39.6 Notes payable / short−term debt 10.5 9.6 Inventories 45.9 42.9 Current maturities of long−term debt 39.9 36.9 Other current assets 6.0 3.0 Other current liabilities 6.0 12.0 Total current assets 171.0 144.0 Total current liabilities 144.0 132.0 Long−Term Assets Long−Term Liabilities Land 66.6 62.1 Long−term debt 239.7 168.9 Buildings 109.5 91.5 Capital lease obligations −−− −−−…
Seminole Corporation reported the following items at December 31, 2021, and 2020: (Click the icon to view the comparative financial information.) Read the requirements. Requirement 1. Compute the company's (a) quick (acid-test) ratio and (b) days' sales outstanding for 2021. Evaluate each ratio value as strong or weak. All sales are on account with terms of net 30 days. (a) Enter the formula and calculate the quick (acid-test) ratio for 2021. (Abbreviation used: Cash* = Cash and cash equivalents. Round your final answer to two decimal places.) Cash* + Short-term investments + Net current receivables + Total current liabilities = Quick (acid-test) ratio $ Seminole's quick (acid-test) ratio is considered fairly weak. (b) Select the formula and calculate Seminole's days' sales outstanding for 2021. (Round interim calculations to two decimal places, XX.XX. Round the days' sales outstanding up to the next whole day.) Accounts receivable turnover = + Days' sales outstanding Seminole's days'…
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