What was the butters current ratio?

Assignment Help Financial Accounting
Reference no: EM132485237

Question 1: At the beginning of the? year, Butters? Company's balance sheet showed current assets of $33,000 and current liabilities of $23,000. During the current? year, Butters issued common stock for $ 5, 500 for cash and purchased $2,900 of inventory on account. After these transactions were? recorded, Butter's current ratio? was: (Round your final answer to two decimal? places.)

Option A. 1.49

Option B. 1.52

Option C. 1.43

Option D. 1.60

Reference no: EM132485237

Questions Cloud

Prepare t-account for the allowance for doubtful accounts : Prepare T-Account for the allowance for doubtful accounts (AFDA) for 2015. Prepare the journal entry to record bad debts expense for 2015
Current quoted exchange rate : The actual quoted exchange rate is A$ 1.4436/$. At the current quoted exchange rate, the Australian dollar appears to be:
What gogola should make an additional investment of : gogola should make an additional investment or (withdrawal) of ? Gogola contributed cash of P1260000 and computer equipment that cost P540000.
What is cypress net working capital : You are evaluating the balance sheet for Cypress Corporation. From the balance sheet you find the following balances: Cash and marketable securities
What was the butters current ratio? : Butters issued common stock for $ 5, 500 for cash and purchased $2,900 of inventory on account. After these transactions were? recorded, Butter's current ratio?
Determine which projects should the firm? accept : Using the net present value approach to ranking? projects, which projects should the firm? accept? The firm is subject to capital rationing and has a capital
Explain why you might prefer effective annual rate : The going rate on your student loan is 8% annual percentage rate (APR), why is your effective annual rate on your loan always larger than 8%?
Build an app that allow user to search itunes : Include a server side component that tracks how many clicks per result are made within the app and a create a view that displays the count of clicks
Estimate ending inventory using the dollar-value lifo : Estimate ending inventory in 2022 using the dollar-value LIFO retail method. (Round your intermediate calculations to the nearest whole dollar.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Create attractive discount packages

The Beach Hotel is located in a warm-weather destination area. For two weeks every spring, thousands of college students travel to the area for fun and relaxation. Which of the following yield management tactics would make the least sense for pricing..

  What is the operating cash flow for the project

Company uses straight-line depreciation to a zero book value over the life of the project. The tax rate is 35%. What is the operating cash flow for this project

  Does the company have any contingent liabilities

What are the amounts and descriptions of the company's current liabilities for the most recent year? Does the company have any contingent liabilities? If yes, please describe. What are the three categories of contingent liabilities and the treatment ..

  Find the unearned revenue

Enter the adjustment data in the work sheet for the transactions shown below and place the balances in the Adjusted Trial Balance columns.

  Calculate any built-in gains tax

During 2014, Whindy Corporation, an S corporation, reports a recognized built-in gain of $80,000 and a recognized built-in loss of $10,000. Whindy holds an $8,000 unexpired NOL carryforward from a C corporation year. Whindy's ordinary income for the ..

  What is an enterprise resource planning system

What is an enterprise resource planning system, and how does this system help companies utilize accounting data?

  Determine monthly cash flow for the first year of operation

Determine Monthly cash flow for the first year of operation and also determine Annual cash flow thereafter; - A clear explanation, of how much cash the venture

  Most consumers perceive ipod portability and storage

Most consumers perceive iPod portability and storage to be superior to CD players. D. The price of iPods has increased dramatically.

  Why does the consolidation entry need to be made each year

Assume that the accountant preparing the consolidation worksheet has chosen to make the optional accumulated depreciation consolidation entry. Why does this consolidation entry need to be made each year

  What is the effect on earnings in the year after the shares

FX Services granted 17.5 million of its $1 par common shares to Executive subject to forfeiture of employment is terminated within 4 years the common shares have a market price of $7 per share on the grant they ignoring taxes what is the effect on ea..

  Evaluate the total product cost for the year

Evaluate the total product cost for the year. Evaluate the total cost of the ending inventory. Evaluate the total of cost of goods sold.

  Calculate EPS for 2016

Calculate EPS for 2016 - Calculate the Price/Earnings Ratio for 2016 - Calculate ROE for 2016

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