User Account

All Pages

Calculate the quick ratio

Assignment Help Financial Accounting
Reference no: EM132984032

The following information has been extracted from the financial statements of Blue Hills Ltd

2020

Cash at bank $ 155 000

Marketable securities 350 000

Accounts receivable 410 000

Inventory 940 000

Prepaid expenses 31 000

Plant and equipment 1 650 000

Accounts payable 879 000

Bills payable 53 000

Accrued expenses 6 000

Require:

Problem a: Calculate the quick ratio for 2020--quick ratio= (Current assets-Inventory)/Current liability

1.(155,000+350,000+410,000+31,000)/(879,000+53,000+6,000)=1.012

2.(155,000+350,000+410,000)/(879,000+53,000+6,000)=0.975:1

Reference no: EM132984032

Questions Cloud

Implementation challenges of e-learning to insurance : Critically discuss possible implementation challenges of e learning to insurance companies
What is the transfer pricing strategy being used : There is currently some tension between the bolts division and the retail division of DIY. What is the transfer pricing strategy being used
How much cash has been paid to suppliers for the year : Assuming that accounts payables are related only to the purchase of inventory, calculate how much cash has been paid to suppliers for the year
Exploration of the organizational structures of businesses : You are approaching the end of your program of study and wish to apply for an internship with a large organization that works globally. You believe that this op
Calculate the quick ratio : Calculate the quick ratio for 2020--quick ratio= (Current assets-Inventory)/Current liability. The information has been extracted from the financial statements
What would happen to net income and cash flow : Butterfly Tractors had $20.50 million in sales last year. What would happen to net income and cash flow if depreciation were increased by $2.30 million?
Find the amount reported in sunland income statement : Sunland uses the straight-line method of amortization. Ignoring income taxes, find the amount reported in Sunland's 2021 income statement
WPDD202 Webpage Design and Development Assignment : WPDD202 Webpage Design and Development Assignment Help and Solution, Kent Institute - Assessment Writing Service
What is the income tax regarding the transactions : If Inez has taxable income (including the property transactions) of $188,450, what is the income tax regarding these transactions?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd