Complete the Acid Test Ratio or Quick Ratio. Report DateScaleCash & cash equivalentsAccounts receivable, grossY3Thousands889,7931,271,43740,4501,230,987Less: allowance for doubtful accountsAccounts receivable, less allowanceFinished goodsWork in process & raw materials898,627169,699Inventories1,068,326Deferred income taxes57,162Other current assets381,030Total current assets3,627,2981,126,892255,010GoodwillIntangible assetsDeferred pension assetsOther assets225,529421,904LandBuildingsMachinery & equipmentConstruction in progressProperty, plant & equipment, grossLess: allowances for depreciationProperty, plant & equipment, net115,555714,8152,153,437117,1263,100,9332,005,0451,095,888Total assets6,752,52140,739Short-term borrowingsAccounts payableCompensation & taxes withheld1,034,608398,045Accrued taxes76,765Current portion of long-term debtOther accruals700,475578,547Total current liabilities2,829,179

Current assets means those assets which will be converted in to cash in near future generally one…

Report Date Scale Cash & cash equivalents Accounts receivable, gross Y3 Thousands 889,793 1,271,437 40,450 1,230,987 Less: allowance for doubtful accounts Accounts receivable, less allowance Finished goods Work in process & raw materials 898,627 169,699 1,068,326 57,162 381,030 3,627,298 1,126,892 255,010 Inventories Deferred income taxes Other current assets Total current assets Goodwill Intangible assets Deferred pension assets 225,529 Other assets 421,904 115,555 714,815 Land Buildings Machinery & equipment Construction in progress Property, plant & equipment, gross Less: allowances for depreciation Property, plant & equipment, net 2,153,437 117,126 3,100,933 2,005,045 1,095,888 Total assets 6,752,521 Short-term borrowings Accounts payable Compensation & taxes withheld Accrued taxes 40,739 1,034,608 398,045 76,765 Current portion of long-term debt Other accruals 700,475 578,547 Total current liabilities 2.829.179

Report Date Scale Cash & cash equivalents Accounts receivable, gross Y3 Thousands 889,793 1,271,437 40,450 1,230,987 Less: allowance for doubtful accounts Accounts receivable, less allowance Finished goods Work in process & raw materials 898,627 169,699 1,068,326 57,162 381,030 3,627,298 1,126,892 255,010 Inventories Deferred income taxes Other current assets Total current assets Goodwill Intangible assets Deferred pension assets 225,529 Other assets 421,904 115,555 714,815 Land Buildings Machinery & equipment Construction in progress Property, plant & equipment, gross Less: allowances for depreciation Property, plant & equipment, net 2,153,437 117,126 3,100,933 2,005,045 1,095,888 Total assets 6,752,521 Short-term borrowings Accounts payable Compensation & taxes withheld Accrued taxes 40,739 1,034,608 398,045 76,765 Current portion of long-term debt Other accruals 700,475 578,547 Total current liabilities 2.829.179

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 12MCQ: Smoltz Company reported the following information for the current year: cost of goods sold,...

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