Scribd Logo
Upload

Welcome to Scribd!

  • 68 views

    Information From Greg Company S Balance Sheet Follows Current A

    Uploaded by

    M Bilal Saleem
    Greg Company's balance sheet shows current assets of $125.8 million including cash, marketable securities, accounts receivable, inventories, and prepaid expenses. Current liabilities total $34 million consisting of notes payable, accounts payable, accrued expenses, income taxes payable, and current portion of long-term debt. The acid-test ratio is calculated as current assets minus inventories divided by current liabilities. Collection of accounts receivable would increase the current ratio and net working capital.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Information From Greg Company S Balance Sheet Follows Current A

    Uploaded by

    M Bilal Saleem
    68 views1 page
    Greg Company's balance sheet shows current assets of $125.8 million including cash, marketable securities, accounts receivable, inventories, and prepaid expenses. Current liabilities total $34 million consisting of notes payable, accounts payable, accrued expenses, income taxes payable, and current portion of long-term debt. The acid-test ratio is calculated as current assets minus inventories divided by current liabilities. Collection of accounts receivable would increase the current ratio and net working capital.

    Original Description:

    13-20

    Original Title

    Information From Greg Company s Balance Sheet Follows Current A

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Greg Company's balance sheet shows current assets of $125.8 million including cash, marketable securities, accounts receivable, inventories, and prepaid expenses. Current liabilities total $34 million consisting of notes payable, accounts payable, accrued expenses, income taxes payable, and current portion of long-term debt. The acid-test ratio is calculated as current assets minus inventories divided by current liabilities. Collection of accounts receivable would increase the current ratio and net working capital.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    68 views1 page

    Information From Greg Company S Balance Sheet Follows Current A

    Uploaded by

    M Bilal Saleem
    Greg Company's balance sheet shows current assets of $125.8 million including cash, marketable securities, accounts receivable, inventories, and prepaid expenses. Current liabilities total $34 million consisting of notes payable, accounts payable, accrued expenses, income taxes payable, and current portion of long-term debt. The acid-test ratio is calculated as current assets minus inventories divided by current liabilities. Collection of accounts receivable would increase the current ratio and net working capital.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    Information from Greg Company s balance sheet follows

    Current a
    Information from Greg Company’s balance sheet follows:Current assets:Cash .................... $
    2,100,000Marketable securities ............. 7,200,000Accounts receivable ...............
    50,500,000Inventories ................. 65,000,000Prepaid expenses ................ 1,000,000Total
    current assets ............... $125,800,000 Current liabilities:Notes payable .................. $
    1,400,000Accounts payable ................ 18,000,000Accrued expenses ...............
    11,000,000Income taxes payable ............. 600,000Payments due within one year on long-term
    debt .. 3,000,000Total current liabilities .............. $ 34,000,000Required Answer the following
    multiple-choice questions:a. What is the acid-test ratio for Greg Company?1. 1.602. 1.763.
    1.904. 2.20b. What is the effect of the collection of accounts receivable on the current ratio and
    net working capital, respectively?Current Ratio Net Working Capital1. No effect No effect2.
    Increase Increase3. Increase No effect4. No effect IncreaseView Solution:
    Information from Greg Company s balance sheet follows Current a
    SOLUTION-- http://expertanswer.online/downloads/information-from-greg-company-s-balance-
    sheet-follows-current-a/

    See Answer here expertanswer.online


    Powered by TCPDF (www.tcpdf.org)

    You might also like