A company with working capital of $246,432 and a current ratio of 2.3 pays a $79,600 short-term liability. The amount of working capital immediately after payment is Round your answer to the nearest dollar. Oa. $109,963 Ob. $356,395 Oc. $466,358 Od. $246,432

A company with working capital of $246,432 and a current ratio of 2.3 pays a $79,600 short-term liability. The amount of working capital immediately after payment is Round your answer to the nearest dollar. Oa. $109,963 Ob. $356,395 Oc. $466,358 Od. $246,432

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 15MCQ: Hummel Inc. has $30,000 in current assets and $15,000 in current liabilities. What is Hummels...

See similar textbooks

Related questions

Q: Accounting Information System is a option: a) manual system b) computer-cased system required:…

A: AIS (accounting information system) is defined as a system that contains various items of the…

Q: Tom Parkey has prepared the following list of statements about depreciation. 1. Depreciation is a…

A: As per the Honor code of Bartleby we are bound to given the answer of first three sub part only,…

Q: Sundial, Inc., produces two models of sunglasses-AU and NZ. the sunglasses have the following…

A: Contribution means the difference between the selling price and variable cost . Fixed cost when…

Q: Mc Cufad Trucking In its first year of operation, the Mc Cufad Trucking has the following summarized…

A: Trial balance means the statement prepared from ledger account where all debit and credit balance…

Q: Bank ABC extends a $3 million line of credit to Capital Corp. The stated rate of interest is 9.5%.…

A: The actual return on a savings account or any other investment that pays interest is referred to as…

Q: Derby Phones is considering the introduction of a new model of headphones with the following price…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: I am struggling to figure out how did you get answer 2. 1000 and 16. 4625 respectively.

A: As asked by you about the figure 2.1000 and 16.4625, it is calculated by multiplying the exposure of…

Q: Freefight Airlines is presently operating at 70 percent of capacity. Management of the airline is…

A: A differential cost schedule is a schedule that analyzes to choose between two options for the…

Q: What is the different between real and personal property? Include examples

A: Immovable property is land. It defines property and everything related to it, including buildings,…

Q: company. Given the company's decentral icipate a minimum rate of return of at leas hieved a 14%…

A: Answer : Residual income =Actual net operating Income - Minimum operating Income Minimum operating…

Q: Eilers Company has two producing departments and two support departments. The following budgeted…

A: The overhead costs can be allocated to various production departments using various methods such as…

Q: Management of Great Springs Bottled Water Company has asked you, the controller, to develop a…

A: The income statement refers to the statement of finance which shows the earnings and expenses of the…

Q: Calculate Payroll K. Mello Company has three employees-a consultant, a computer programmer, and an…

A: Payroll: It implies to the list that reflects the total number of company's employees and the amount…

Q: On January 1, Year 2 Grande Company had a $21,000 balance in the Accounts Receivable account and a…

Q: Way Corporation disposed of the following tangible personal property assets in the current year.…

A: Depreciation expense refers to the charges by which the asset value decreases over its useful life.…

Q: The Zakchari Company has six processing departments for refining sugar—Affination, Carbonation,…

A: A production report is prepared by the company to determine, how many units they are producing and…

Q: cribe the cash flows activities reported on the statement of cash flows .

A: Cash flow statements are very important for any company it shows how much money is coming in the…

Q: Travel Warehouse Ltd. distributes suitcases to retail stores. At the end of June, Travel Warehouse's…

A: Perpetual Inventory System Through the use of point-of-sale systems, perpetual inventory systems…

Q: The beginning inventory at Midnight Supplies and data on purchases and sales for a three-month…

A: Solution: Under LIFO method, inventory purchase first is considered as sold in last, keeping oldest…

Q: Chapter 24 discusses various methods of analyzing financial statements in terms of calculating…

A: Financial statements and the position of business can be understood at a glance through financial…

Q: Wilson Company earned $4,000 of cash sales. Sales tax is 6%. Which of the following shows how this…

A: Ans. Option B

Q: Explain who are the specified persons. Elaborate in detail on the composition of such persons to…

A: (a) 1. The individuals in question are those who have some sort of relationship with the company,…

Q: Sports Socks has a policy of always paying within the discount period and each of its suppliers…

A: Accounts Payable :— It is the amount payable by company to their suppliers. Direct Material…

Q: Beginning Inventory Ending Inventory Purchases Revenues Food $110,000 $98,470 $488,000 $1,268,000 b.…

A: Inventory refers to all the items, goods, merchandise, and materials held by a business for selling…

Q: Required information Kevan, Jerry, and Dave formed Albee LLC. Jerry and Dave each contributed…

A: Albee, LLC Tax basis balance sheet Particulars Amount ($) Assets Cash 505000 Land 120000 Totals…

Q: Ehrlich Corporation has 400,000 shares of common stock outstanding throughout 2021. In addition, the…

A: Earnings per share is a calculated by dividing net income after deducting preferred dividends…

Q: The BRS Corporation makes collections on sales according to the following schedule: 40% in month of…

A: Given, 40% of April sales are collected in June 55% of May sales are collected in June 40% of June…

Q: Pls help me if it credit and debit make the tables make easy to read pls 5

A: Dividend - This is the amount which is paid by the company to its shareholders. Dividend includes…

Q: ou have the following information for Brophy, Inc. December 31 Long-Term Debt ($ in…

A: Golden Rules of Accounting: Account Debit Credit Personal Accounts The Receiver The…

Q: Heather Hudson makes stuffed teddy bears. Recent information for her business follows: Selling price…

A: The degree of operating leverage or DOL is a financial metric that measures the sensitivity of a…

Q: Perpetual inventory using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as…

A: Inventory valuation is based on the flow-off issue used by the organization. It can be the first in…

Q: Hickory Company manufactures two products—13,000 units of Product Y and 5,000 units of Product Z.…

A: Plainwide overhead rate refer to the rate that is used by the company for the allocation of all…

Q: P10.3A (LO 2) On January 1, 2020, Evers Company purchased the following two machines for use in its…

A: Introduction: Under the straight line method cost of the asset is depreciated equally over the…

Q: The Williamsport Crosscutters baseball team had a player contract with Clemens (a promising young…

A: Introduction:- Journal entry is the first stage of accounting process. Journal entry used to record…

Q: Cotrone Beverages makes energy drinks in three flavors: Original, Strawberry, and Orange. The…

A: When determining whether or not to stop producing a product, you should take into account not only…

Q: The GST reporting period for a company with $800,000 of revenues would be: Annually Quarterly…

A: The GSTR 1 form is a return form for the regular taxpayers who have to file details of outward…

Q: increase total assets and stockholders' equity. have no effect on total assets or stockholders'…

A: Some of the debts are not collected and that means there is no chance that there would be recovery…

Q: C. December 1. Wrote check to establish a petty cash fund, $200 CK NO. 21. d. December 9. Used debit…

A: Journal Entry: Journalizing entails recoding business transactions in the Journal in a chronological…

Q: Gallatin County Motors Inc. assembles and sells snowmobile engines. The company began operations on…

A: The income statement can be prepared using various methods as variable costing and absorption…

Q: Electric Gene - 11.80% . 13.20% - 10.00%

A: Expected rate of return refers to the concept of determining the estimated cash flows a investment…

Q: Natural Resources SE7. Walden Green Company purchased land containing an estimated 4,000,000 tons of…

A: Depletion is the allocation of cost paid to acquire the asset from which an entity will receive…

Q: Levine Company uses the perpetual Inventory system. April 8 Sold merchandise for $8,500 (that had…

A: Journal Entry is the primary step to record the transaction in the books of accounts. The sales…

Q: Since the SUTA rates changes are made at the end of each year, the available 2021 rates were used…

A: Tax savings=Taxable payroll×Original tax rate-Changed tax rate-Voluntary contribution

Q: On January 1, Year 1, Marino Moving Company paid $64,000 cash to purchase a truck. The truck was…

A: Introduction: As per straight-line method, annual depreciation is charged on the basis of expected…

Q: Question 1 of 1 View Policies Show Attempt History Current Attempt in Progress On December 1, 2022.…

A: Golden Rules of Accounting: Account Debit Credit Personal Accounts The Receiver The…

Q: Noor Patel has had a busy year! She decided to take a cross-country adventure. Along the way, she…

A: The amount of income that is subject to taxation is known as the taxable amount. It may take into…

Q: Suppose Fine Chocolates Co. estimates bad debt under the aging method. Before adjusting entries at…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Tally Company paid cash to purchase a long-term operational asset. The cost of the asset will be…

Q: he following information applies to the questions displayed below.] Connie recently provided legal…

A: Ordinary income refers to the sum value of any type of income gained by an entity on which the…

Q: e following information relates to Wagner, Inc.: Advertising Costs $10,600 Administrative…

A: Period costs are non manufacturing costs and are totally expensed in the period in which they are…

Question

100%

A company with working capital of $246,432 and a current ratio of 2.3 pays a $79,600 short-term liability. The amount of working capital immediately after payment is
Round your answer to the nearest dollar.
Oa. $109,963
Ob. $356,395
Oc. $466,358
Od. $246,432

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Discontinuing operations for a product or a service line

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Hummel Inc. has $30,000 in current assets and $15,000 in current liabilities. What is Hummels current ratio? a. 3 c. 1 b. 2 d. 0.5
A company with working capital of $880,000 and a current ratio of 3 pays a $138,000 short terms liability. the amount of working capital immediately after payment is ~ a. $1,1018,000 b.$880,000 c.$138,000 d.$742,000
A company with working capital of $500,000 and a current ratio of 2:1 pays a $100,000 short-term liability. The amount of working capital immediately after payment is? The current ratio immediately after the payment is?
At the end of the first month of operations for FDNACCT, the business had earned P140,500 of revenues and incurred P71,500 of expenses. It also showed the following: Liabilities: P25,000 Assets: P118,000 How much is the owner’s initial investment?
Assume that a company has current assets of R60 000, current liabilities of R5 000 and prepaid expenses of R5 000. Calculate the quick ratio of the company? 1.57 or 1.71 or 0.58 or 1.86
Southport Industries company has current assets of $600,000 and a current ratio is 4.00. Assume that the company prepays rent for 9 months in the amount of $35,000. The current ratio after this transaction is closest to: 4.00. 3.77. 5.22. 4.23. Please don't give image based answer ..thanku
FDNACCT has beginning balance of owner’s equity of 183,000. This increased to P500,000 at year-end. Owner’s additional investment and withdrawal were P60,000 and P90,000, respectively. Total costs and expenses during the year amounted to P262,000. How much was total revenues earned during the period?
4 Bird Company incurred $10,000 in salaries and wages for employees for the year; $9,000 of these salaries and wages had been paid by the end of the year. Which of the following statements about this situation is correct? Multiple Choice Salaries and Wages Payable on the income statement will be $9,000. Salaries and Wages Expense on the income statement will be $1,000. Salaries and Wages Expense on the balance sheet will be $10,000. Salaries and Wages Payable on the balance sheet will be $1,000.
Osprey Company has working capital in the amount of $1,300,000. For each of the following transactions, determine whether working capital will increase, decrease, or remain the same. (1) Paid accounts payable in the amount of $64,000. (2) Borrowed $250,000 from a local bank, to be repaid in 90 days.
A company's financial statement of financial position shows customers of 24k accounts receivable 30k equipment 50k equity 72k. How much is the liability?
SDJ, Inc., has net working capital of $2,060, current liabilities of $5,550, and inventory of $1,250. Requirement 1: What is the current ratio? (Round your answer to 2 decimal places (e.g., 3.16).) Current ratio times Requirement 2: What is the quick ratio? (Round your answer to 2 decimal places (e.g., 3.16).) Quick ratio times
1)The owner’s capital is P200,000. The total liability is P80,000 of which P60,000 is current liability. The non-current asset is P100,000. The working capital, therefore, is: a. P200,000 b. P180,000 c. P120,000 d. P100,000 2) Servicing business using non-conventional reporting of income has P600,000 service revenue. The cost of service is 80% of service revenue and the operating expenses is 25% of gross income. What is the operating income? a. P 90,000 b. P 96,000 c. P100,000 d. P100,800