Compute zachary current ratio before and after issuing

Assignment Help Financial Accounting
Reference no: EM132657419

On June 30, 2018, Zachary Company's total current assets were $505,000 and its total current liabilities were $274,000. On July 1, 2018, Zachary issued a long-term note to a bank for $41,000 cash.

Required

Problem 1: Compute Zachary's working capital before and after issuing the note.

Problem 2: Compute Zachary's current ratio before and after issuing the note. (Round your answers to 1 decimal place.)

Reference no: EM132657419

Questions Cloud

Homeostasis system in human body when temperature change : ASSIGNMENT - Homeostasis system in human body when temperature change.
Compute the working capital for gibson corporation : Compute the Working capital for Gibson Corporation. Total liabilities and stockholders' equity $1,008,000. Common stock and retained earnings $409,000
Compute zachary working capital before and after issuing : Compute Zachary's working capital before and after issuing the note. On June 30, 2018, Zachary Company's total current assets were $505,000
Intelligence-counterintelligence in fight against terrorism : Analyze the importance of both intelligence and counterintelligence in the fight against terrorism.
Compute zachary current ratio before and after issuing : Compute Zachary's current ratio before and after issuing the note. (Round your answers to 1 decimal place.).On June 30, 2018, Zachary Company's total current
Evidence collection-chain of custody : Describe the approach necessary to ensure that all evidence is gathered properly and that the chain of custody has been maintained.
Types of weapons of mass destruction : Decide what the biggest concern is in regard to each of the three types of weapons of mass destruction: nuclear, biological, and chemical.
Find how many times did the merchandise inventory : Perez Company, Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over during 2019?
Create a profit-and-loss statement for a 3-year period : Create a profit-and-loss statement for a 3-year period. Project revenue, stating realistic assumptions, such as growth per year, in your projections."

Reviews

Write a Review

Financial Accounting Questions & Answers

  What is the volume to breakeven

If reimbursement increased to $800 per scan, what's the volume to breakeven? What's the monthly patient volume required to make a 50,000 profit?

  Why current assets policy important in particular situation

Calgary Company, Suggest which option would like if you are managers of the company and do not have much concern about business?

  Calculate inventory turnover and gross profit margin

Calculate Inventory Turnover and Gross Profit Margin for your selected company for the last two years from the SEC Form 10-K.

  Calculate the book value of machine

Calculation of book value of machine - what will be the machine's book value as of December31, 2008?

  What is the firm P by E ratio

The company has 63.72 million shares outstanding. The company's stock price at the end of last year was $126.14. What is the firm's P/E ratio?

  Prepare a multiple step income statement for fiscal year

Prepare adjusting journal entries to reflect each epreciation expense on store equipment, a selling expense, is $1400 for the fiscal year

  Prepare an income statement and statement of partners

Prepare an income statement and statement of partners' capital for the year ended December 31, 2019 and a balance sheet at December 31.

  Find what npv break-even level of sales if firm pays no tax

Find What is the NPV break-even level of sales if the firm pays no taxes? What is the accounting break-even level of sales if the firm's tax rate is 30%?

  What would account be worth in forty years

If you deposit $3500 today into an account earning an annual rate of return of 7 percent, what would your account be worth in 40 years?

  Annual cost data at full capacity

The Dorilane Company specializes in producing a set of wood patio furniture consisting of a table and four chairs. The set enjoys great popularity, and the company has ample orders to keep production going at its full capacity of 4,100 sets per year...

  Loan is secured by the residence and the charging of points

On July 1 of the current year, Marcia purchases a new home and borrows $320,000. Marcia is required to pay two points on the loan. The loan is secured by the residence and the charging of points is an established business practice in the area. The te..

  Why is differential analysis of relevant items preferred

Why is differential analysis of relevant items preferred to a detailed listing of all costs and revenues associated with each alternative?

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!

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