a-1. Using the information above, compute the amount of Roy's Toys quick assets. (Enter your answer in millions of dollars.) a-2. Using the information above, compute the amount of Roy's Toys total current assets. (Enter your answer in millions of dollars.) b-1. Compute for Roy's Toys the quick ratio. (Round your answer to 1 decimal place.) b-2. Compute for Roy's Toys the current ratio. (Round your answer to 1 decimal place.) b-3. Compute for Roy's Toys the dollar amount of working capital. (Enter your answer in millions of dollars.)

Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter5: Cash Control Systems
Section: Chapter Questions
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ACCT 102 - Please Do All Subparts

Roy's Toys is a manufacturer of toys and other children's products. The following are selected items appearing in a recent balance
sheet.
Cash and short-term investments
Receivables
Inventories
Prepaid expenses and other current assets
Total current liabilities
Total liabilities
Total stockholders" equity
$50
155
75
39
130
205
349
Dollar amounts stated above are in millions.
a-1. Using the information above, compute the amount of Roy's Toys quick assets. (Enter your answer in millions of dollars.)
a-2. Using the information above, compute the amount of Roy's Toys total current assets. (Enter your answer in millions of dollars.)
b-1. Compute for Roy's Toys the quick ratio. (Round your answer to 1 decimal place.)
b-2. Compute for Roy's Toys the current ratio. (Round your answer to 1 decimal place.)
b-3. Compute for Roy's Toys the dollar amount of working capital. (Enter your answer in millions of dollars.)
a-1.
Quick assets
million
海
a-2.
Total current assets
million
b-1.
Quick ratio
to 1
b-2
Current ratio
to 1
b-3,
Working capital
million
Transcribed Image Text:Roy's Toys is a manufacturer of toys and other children's products. The following are selected items appearing in a recent balance sheet. Cash and short-term investments Receivables Inventories Prepaid expenses and other current assets Total current liabilities Total liabilities Total stockholders" equity $50 155 75 39 130 205 349 Dollar amounts stated above are in millions. a-1. Using the information above, compute the amount of Roy's Toys quick assets. (Enter your answer in millions of dollars.) a-2. Using the information above, compute the amount of Roy's Toys total current assets. (Enter your answer in millions of dollars.) b-1. Compute for Roy's Toys the quick ratio. (Round your answer to 1 decimal place.) b-2. Compute for Roy's Toys the current ratio. (Round your answer to 1 decimal place.) b-3. Compute for Roy's Toys the dollar amount of working capital. (Enter your answer in millions of dollars.) a-1. Quick assets million 海 a-2. Total current assets million b-1. Quick ratio to 1 b-2 Current ratio to 1 b-3, Working capital million
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