Use the following information from XYZ Company's balance sheet to answer the next six questions: Assets a. b. a. b. Cash........ Marketable Securities Accounts Receivable. Inventory Property and Equipment. Accumulated Depreciation.. Total Assets. C. d. 26. XYZ's quick (acid-test) ratio is 4.0 to 1. 4.5 to 1. 3.5 to 1. 3.0 to 1. Liabilities and Stockholders' Equity Accounts Payable.. Notes Payable (current). a. b. c. d. ******** Mortgage Payable (long-term). Bonds Payable (long-term).. Common Stock, $50 Par.. Paid-in Capital in Excess of Par. Retained Earnings. Total Liabilities, and Stockholders' Equity 27. XYZ's earnings per share is $7.50 per share. $7.00 per share. $0.13 per share. $6,300 per share. ******** The average number of common stock shares outstanding during the year was 840 shares. Net earnings for the year were $6,300. 25. XYZ's current ratio is 6.0 to 1. 5.5 to 1. C. 4.0 to 1. d. 4.5 to 1. $ 6,000 3,200 5,200 14,400 68,000 (5,000) $91,800 $ 3,400 1,400 1,800 28,600 24,000 11,600 21,000 $91,800

Use the following information from XYZ Company's balance sheet to answer the next six questions: Assets a. b. a. b. Cash........ Marketable Securities Accounts Receivable. Inventory Property and Equipment. Accumulated Depreciation.. Total Assets. C. d. 26. XYZ's quick (acid-test) ratio is 4.0 to 1. 4.5 to 1. 3.5 to 1. 3.0 to 1. Liabilities and Stockholders' Equity Accounts Payable.. Notes Payable (current). a. b. c. d. Mortgage Payable (long-term). Bonds Payable (long-term).. Common Stock, $50 Par.. Paid-in Capital in Excess of Par. Retained Earnings. Total Liabilities, and Stockholders' Equity 27. XYZ's earnings per share is $7.50 per share. $7.00 per share. $0.13 per share. $6,300 per share. The average number of common stock shares outstanding during the year was 840 shares. Net earnings for the year were $6,300. 25. XYZ's current ratio is 6.0 to 1. 5.5 to 1. C. 4.0 to 1. d. 4.5 to 1. $ 6,000 3,200 5,200 14,400 68,000 (5,000) $91,800 $ 3,400 1,400 1,800 28,600 24,000 11,600 21,000 $91,800

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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