User Account

All Pages

Determine the quick ratio for december

Assignment Help Accounting Basics
Reference no: EM131697684

Question - Gmeiner Co. had the following current assets and liabilites on December 31 of two recent years:

Current Year Previous Year

Current Assets:

Cash 486,000 500,000

Accounts Receivable 210,000 200,000

Inventory 375,000 350,000

Total Current Assets 1,071,000 1,050,000

Current Liabilities:

Current portion of long-term debt 145,000 110,000

Accounts payable 175,000 150,000

Accrued and other current liabilities 260,000 240,000

Total Current Liabilities 580,000 500,000

a. Determine the quick ratio for December 31 of both years.

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

Reference no: EM131697684

Questions Cloud

How much is the direct labor standard cost per hour : Payroll costs are $3.00 per hour, and benefits are $6.00 per hour. How much is the direct labor standard cost per hour
Discuss the traveling production of the phantom : A traveling production of The Phantom of the Opera performs each year. The average show sells 800 tickets at $50 a ticket. There are 100 shows each year.
What is the present value of acmes future cash flows : What is the present value of Acme's future cash flows using the discounted cash flow model? Explain your reasoning using references from the background reading.
How much is the direct materials standard cost per square : Payroll costs are $4.00 per hour, and benefits are $5.00 per hour. How much is the direct materials standard cost per square foot
Determine the quick ratio for december : Gmeiner Co. had the following current assets and liabilites on December 31 of two recent years: Determine the quick ratio for December 31 of both years
Identiy the multiple definitions of public relations : The connection between PR and the promotional aspect of the marketing mix (advertising, publicity, public relations)?
Weak acid dissociate more as the pka increase : Why is it that when a weak acid is dissolved in pure water, the extent of dissociation of the acid is less when pka value increases.
What is the payback period : What is the payback period? Compute the payback period for an investment requiring an initial outlay of $80,000 with expected annual cash inflows of $30,000.
What is the change in the internal energy of the gas : At the same time, the gas loses 246 J of energy to the surroundings as heat. What is the change in the internal energy of the gas?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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