50.1K

Verified Solution

Link Copied!

only C and D -.-

Accounts receivable Cash Assets Equipment (net) Inventory Land Supplies Total assets (a) 2022 $1,700 900 44,000 3,700 22,000 400 2021 $2,400 1,200 50,000 4,200 22,000 700 $72,700 $80,500 y3 2021 diki 2022. Each is listed in alphabetical order. Liabilities Accounts payable Bonds payable Notes payable (current) Notes payable (long-term) Total liabilities Reliable reported net income of $48,000 for 2022 and $42.000 for 2021. 2022 $3,900 31,000 2.200 5,000 2021 $3,000 26,000 1,600 4,000 $42,100 $34,600 Listed below are assets and liabilities of Reliable Corporation for the years 2021 and 2022. Each is listed in alphabetical order. Accounts receivable Cash Assets Equipment (net) Inventory Land Supplies (a) Total assets 2022 $1,700 900 44,000 3,700 22,000 400 2021 $2,400 1.200 50,000 4,200 22,000 700 $72,700 $80,500 Liabilities Accounts payable Bonds payable Notes payable (current) Notes payable (long-term) Total liabilities Reliable reported net income of $48,000 for 2022 and $42,000 for 2021. 2022 $3,900 31,000 2,200 5,000 2021 $3,000 26,000 1,600 4,000 $42,100 $34,600 (a) Your answer is correct. Compute total current assets and total current liabilities for each year. (b) Total current assets Total current liabilities eTextbook and Medial 2022 6,700 6,100 $ $ 2021 8,500 4.600 Attempts: 1 of 5 used (c) Your answer is correct. Compute working capital and the current ratio for each year. (Round current ratio to 2 decimal places, e.g. 52.75.) Working capital Current ratio eTextbook and Media 2022 600 1.10 :1 $ 2021 3900 1.85 :1 Attempts: 1 of 5 used (c) (d) * Your answer is incorrect. Compute the debt to assets ratio for each year. (Round answers to 2 decimal places, e.g. 52.75%) Debt to assets ratio eTextbook an Media Save for Later 2022 0.58 % 2021 0,43 % Attempts: 1 of 5 used Submit Answer (d) Comment on the change in the company's liquidity, and solvency. The company's working capital and current ratio This suggests that its ability to pay its short term obligations Comment on the change in the company's solvency. The company's debt to assets ratio This suggests that its ability to pay interest and principal on its debts as they come due has

Answer & Explanation Solved by verified expert

See Answer