Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. current ratio and working capital for the bottom.

current ratio and working capital for the bottom. txercise 10-7 Suppose the following financial...

80.2K

Verified Solution

Question

Accounting

current ratio and working capital for the bottom.image

txercise 10-7 Suppose the following financial data were reported by 3M Company for 2014 and 2015 (dollars in millons). 3M Company Balance Sheets (partial) Current assets Cash and cash aquimalentsS Accounts receivable, net 3,0111,797 3,217 3,222 2,950 1,525 49,494 4,835 $5,996 2,644 1,840 Other current assets 10,712$9.40 Current lisb ities Your answer is correct. Calculate the current ratio and working capital for 3M for 2014 and 2015. (Round current ratio to 2 decimal places, g- 1.25:.) 610 1 2.21 1 598 million 2015 5877 million SHOW SOLUTION SHOW A K TO TEXT Your anwer is inconrect. Try again. Suppose that at the end of 2015, 3H management used $200 mllion cash to pay off $200 m lion of accounts payable. How would its curent ratio and working capital have changed? (Round current ratio to 2 decimal places, e.g. 1.25 Current rato Working captal LINK TO TEXT

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students