Solution-Determine the quick ratio for december 31

Determine the quick ratio for december 31

Assignment Help Financial Accounting

Reference no: EM13533182

CCB Co. had the following current assets and liabilities for two comparative years:

	Dec. 31, 2012	Dec. 31, 2011
Current assets:
Cash	$ 506,000	$ 524,000
Accounts receivable	354,000	364,000
Inventory	240,000	200,000
Total current assets	$1,100,000	$1,088,000
Current liabilities:
Current portion of long-term debt	$ 160,000	$ 120,000
Accounts payable	265,000	220,000
Accrued and other current liabilities	435,000	400,000
Total current liabilities	$ 860,000	$ 740,000

a. Determine the quick ratio for December 31, 2012 and 2011.

b. Interpret the change in the quick ratio between the two balance sheet dates.

Reference no: EM13533182

Questions Cloud

How nutrient turnover rate and nutrient distribution : How nutrient turnover rate and nutrient distribution between the soil and vegetation is affected by temperature. Why can’t the tropics support agriculture without huge fertilizer supplements?

Principles of internal control : The computer automatically drops an employee from the payroll system when that employee has six consecutive weeks with no hours worked.

Innate immune system and adaptive immune system : In some ways, the innate immune system and adaptive immune system are interwinned. Describe one example the adaptive immune response elicits an innate immune response or vice versa

Explain the mass of ethanol in your original unknown : Assuming that prior experiments have shown the single-step extraction removes only 77% of the ethanol, what is the mass of ethanol in your original unknown. 10.328g mass of ethanol moved by extraction,32.193 g unknown in original solution.

Determine the quick ratio for december 31 : Determine the quick ratio for December 31, 2012 and 2011 and interpret the change in the quick ratio between the two balance sheet dates.

Disadvantages of having two immunesystems in our body : What are the advantages and disadvantages of having two immunesystems in our body: the innate and adaptive?

Explain the mass in grams of 6.02x10^23 hydrogen atoms : If the average mass of a single hydrogen atom is 1.67x10^-24g , what is the mass in grams of 6.02x10^23 hydrogen atoms

Provide the journal entry for the periods payroll : Provide the journal entry for the periods payroll - payroll register of Russert Construction

How much heat is discarded to the high-temperature reservoir : A refrigerator has a coefficient of performace of 2.10. In each cycle it absorbs 20000J of heat from th ecold reservoir. how much heat is discarded to the high-temperature reservoir

User Account

All Pages

Determine the quick ratio for december 31

Reference no: EM13533182

Reference no: EM13533182

Questions Cloud

Reviews

Write a Review

Financial Accounting Questions & Answers

Financial statement analysis and preparation

Shareholder of a company

Financial and accounting principles

Prepare a statement of cash flow using the direct method

Financial accounting assignment

Prepare general journal entries for goela

Principles of financial accounting

Prepare general journal entries to record the transactions

Global reporting initiative

Explain the iasb conceptual frameworks

Determine the company''s financial statements

Computation of free cash flow

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT