Intermediate Accounting
9th Edition
ISBN: 9781259722660
Author: J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher: McGraw-Hill Education
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Textbook Question
Chapter 3, Problem 3.1E
• LO3–2, LO3–3, LO3–8
| Cash and cash equivalents | $ 5,000 |
| Accounts receivable (net) | 20,000 |
| Inventories | 60,000 |
| Property, plant, and equipment (net) | 120,000 |
| Accounts payable | 44,000 |
| Wages payable | 15,000 |
| Paid-in-capital | 100,000 |
The only asset not listed is short-term investments. The only liabilities not listed are a $30,000 note payable due in two years and related accrued interest of $1,000 due in four months. The
Required:
Determine the following at December 31, 2018:
1. Total current assets
2. Short-term investments
3. Retained earnings
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AQUIL and BADIR formed a partnership on
January 2, 2022 by contributing their
respective assets and equities subject to
adjustments. On that date, the following
were provided:
Cash
Accounts Receivable
Inventories
Land
Building
Equipment
Intangible assets
Accounts Payable
Other Liabilities
Capital
AQUIL BADIR
28,000 62,000
200,000 600,000
120,000 200,000
600,000
500,000
50,000 35,000
2,000 3,000
180,000
250,000
200,000 350,000
OZU,UUU 800,000
Use the following table:
Case X
Case Y
Case Z
Cash
$
940
$
1,470
$
1,940
Short-term investments
0
0
780
Receivables
0
1,690
1,360
Inventory
3,400
1,560
6,520
Prepaid expenses
2,600
1,020
1,460
Total current assets
$
6,940
$
5,740
$
12,060
Current liabilities
$
3,600
$
1,800
$
5,750
Required:Calculate the quick ratio in each of the above cases and select the case which is in the best position to meet short-term obligations most easily. (Round your answers to 2 decimal places.)
Pergunta 11
Use the information for the question(s) below.
Omicron Industries Market Value Balance Sheet (5 Millions)
and Cost of Capital
Assets
Cash
Other Assets
0
500
x
Liabilities
$50.00 million
$67.25 million
$38.50 million
$10.25 million
$75.50 million
Debt
200
Equity 300
Omicron Industries New Project Free Cash Flows (Millions)
0
3
40
Year
Free Cash Flows (100)
The debt capacity for Omicron's new project in year O is closest to:
2
50
Cost of Capital
▷ Exibir comentários da pergunta 11
TC
60
Det 6%
Equity 12%
Chapter 3 Solutions
Intermediate Accounting
Ch. 3 - Prob. 3.1QCh. 3 - Prob. 3.2QCh. 3 - Define current assets and list the typical asset...Ch. 3 - Prob. 3.4QCh. 3 - Prob. 3.5QCh. 3 - Prob. 3.6QCh. 3 - Describe the common characteristics of assets...Ch. 3 - Prob. 3.8QCh. 3 - Prob. 3.9QCh. 3 - Define the terms paid-in-capital and retained...
Ch. 3 - Disclosure notes are an integral part of the...Ch. 3 - A summary of the companys significant accounting...Ch. 3 - Define a subsequent event.Ch. 3 - Prob. 3.14QCh. 3 - Prob. 3.15QCh. 3 - Prob. 3.16QCh. 3 - Prob. 3.17QCh. 3 - Show the calculation of the following solvency...Ch. 3 - Prob. 3.19QCh. 3 - Prob. 3.20QCh. 3 - (Based on Appendix 3) Segment reporting...Ch. 3 - Prob. 3.22QCh. 3 - Prob. 3.23QCh. 3 - Current versus long-term classification LO32,...Ch. 3 - Balance sheet classification LO32, LO33 The trial...Ch. 3 - Prob. 3.3BECh. 3 - Balance sheet classification LO32, LO33 Refer to...Ch. 3 - Balance sheet classification LO32, LO33 The...Ch. 3 - Balance sheet classification LO32, LO33 You have...Ch. 3 - Balance sheet preparation; missing elements LO32,...Ch. 3 - Financial statement disclosures LO34 For each of...Ch. 3 - Calculating ratios LO38 Refer to the trial...Ch. 3 - Prob. 3.10BECh. 3 - Calculating ratios; solving for unknowns LO38 The...Ch. 3 - Balance sheet; missing elements LO32, LO33, LO38...Ch. 3 - Balance sheet classification LO32, LO33 The...Ch. 3 - Balance sheet classification LO32, LO33 The...Ch. 3 - Balance sheet preparation LO32, LO33 The...Ch. 3 - Balance sheet preparation LO32, LO33 The...Ch. 3 - Balance sheet; Current versus long-term...Ch. 3 - Prob. 3.7ECh. 3 - Prob. 3.8ECh. 3 - Balance sheet preparation LO32, LO33 The...Ch. 3 - Financial statement disclosures LO34 The...Ch. 3 - Prob. 3.11ECh. 3 - Prob. 3.12ECh. 3 - Prob. 3.13ECh. 3 - FASB codification research LO32, LO34 Access the...Ch. 3 - Prob. 3.15ECh. 3 - Prob. 3.16ECh. 3 - Prob. 3.17ECh. 3 - Calculating ratios; solve for unknowns LO38 The...Ch. 3 - Prob. 3.19ECh. 3 - Effect of management decisions on ratios LO38...Ch. 3 - Prob. 3.21ECh. 3 - Prob. 3.22ECh. 3 - Balance sheet preparation LO32, LO33 Presented...Ch. 3 - Balance sheet preparation; missing elements LO32,...Ch. 3 - Balance sheet preparation LO32, LO33 The...Ch. 3 - Balance sheet preparation LO32, LO33 The...Ch. 3 - Balance sheet preparation LO32, LO33 The...Ch. 3 - Prob. 3.6PCh. 3 - Balance sheet preparation; errors LO32, LO33 The...Ch. 3 - Balance sheet; errors; missing amounts LO32, LO33...Ch. 3 - Balance sheet preparation LO32 , LO33 Presented...Ch. 3 - Prob. 3.10PCh. 3 - Communication Case 31 Current versus long-term...Ch. 3 - Analysis Case 32 Current versus long- term...Ch. 3 - Prob. 3.4BYPCh. 3 - Judgment Case 35 Balance sheet; errors LO32...Ch. 3 - Prob. 3.6BYPCh. 3 - Real World Case 37 Balance sheet and significant...Ch. 3 - Judgment Case 38 Post fiscal year-end e vents ...Ch. 3 - Prob. 3.9BYPCh. 3 - Prob. 3.10BYPCh. 3 - Prob. 3.11BYPCh. 3 - Analysis Case 314 Balance sheet information LO32...Ch. 3 - Prob. 3.15BYPCh. 3 - Ethics Case 316 Segment reporting Appendix 3 You...Ch. 3 - Prob. 1CCTC
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