Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. question help e5-23a (similar to) 5 abanakl corpor

Question Help E5-23A (similar to) 5 Abanakl Corporation reported the following items at December 31,...

80.2K

Verified Solution

Question

Accounting

image
image
Question Help E5-23A (similar to) 5 Abanakl Corporation reported the following items at December 31, 2018, and 2017: Click the icon to view the comparative financial information.) Read the requirements Dit Requirement 1. Compute the company's (a) quick (acid-test) ratio and (b) days' sales outstanding for 2018. Evaluate each ratio value as strong or weak. All sales are on account with terms of net 30 days. he (a) Enter the formula and calculate the quick (acid-test) ratio for 2018. (Abbreviation used: Cash Cash and cash equivalents. Round your final answer to two decimal tplaces.) Quick (acid-test) ratio Inco 3) - Data Table Balance Sheets (Summarized) Year End Year End 2018 2017 2018 2017 Current assets: Cash $ 16,000 $ $ 16,000 $ 106,000 20,000 Current liabilities: 12,000 Accounts payable 10,000 Other current liabilities 69,000 Long-term liabilities 189,000 5,000 Stockholders' equity 10,000 17,500 108,000 21,000 Marketable securities Accounts receivable, net Inventory Other current assets Long-term assets 21,000 55,000 193,000 5,000 148,000 148,500 Total assets $ 290,000 $ 295,000 Total liabilities and equity $ 290,000 $ 295,000 Income Statement (partial): 2018 Print Done

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