ACCT 102 - Please Do Both Subparts Roy's Toys is a manufacturer of toys and other children's products. The following are selected items appearing in a recent balancesheet.Cash and short-term investmentsReceivables$ 47.3159.772.332.0InventoriesPrepaid expenses and other current assetsTotal current liabilitiesTotal liabilitiesTotal stockholders, equity130.1279.4344.0Dollar 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 dollarsrounded to 1 decimal place.)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 Toyś the dollar amount of working capital. (Enter your answer in millions of dollars rounded to 1 decimalplace.)a-1.Quick assetsmilliona-2.Total current assetsmillionb-1,Quick ratioto 1b-2,Current ratioto 1b-3.Working capitalmillion

The practice of scrutinizing and comparing financial data of a corporation using its financial…

Answered: Roy's Toys is a manufacturer of toys…

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter5: Cash Control Systems

Section: Chapter Questions

Problem 1ANFS

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Sherwood, Inc., had the following current assets and current liabilities at the end of two recent years: Year 2(in millions) Year 1(in millions) Cash and cash equivalents $4,165 $4,528 Short-term investments, at cost 2,958 8,408 Accounts and notes receivable, net 9,404 8,624 Inventories 1,771 787 Prepaid expenses and other current assets 590 291 Short-term obligations (liabilities) 315 3,342 Accounts payable and other current liabilities 7,453 6,813 a. Determine the (1) current ratio and (2) quick ratio for both years. Round to one decimal place. Year 2 Year 1 Current ratio fill in the blank 1 fill in the blank 2 Quick ratio fill in the blank 3 fill in the blank 4
You are evaluating the balance sheet for Goodman Bees Corporation. From the balance sheet you find the following balances: cash and marketable securities = $400,000, accounts receivable = $1,200,000, inventory = $2,100,000, accrued wages and taxes = $500,000, accounts payable = $800,000, and notes payable = $600,000. Calculate Goodman Bees' net working capital. (Enter your answer in dollars not in millions. Round your answer to the nearest dollar amount.)
Use the information below for Harding Company to answer the question that follow. Harding Company Accounts payable $32,441 Accounts receivable 62,838 Accrued liabilities 6,445 Cash 23,006 Intangible assets 41,037 Inventory 84,374 Long-term investments 95,861 Long-term liabilities 72,719 Marketable securities 34,097 Notes payable (short-term) 29,992 Property, plant, and equipment 694,005 Prepaid expenses 1,051 Based on the data for Harding Company, what is the amount of quick assets?
Using the data given below, compute for the total amount of items that meet the definition of financial asset Cash P 100,000 Investment in shares – FVTPL 500,000 Investment in associate 2,000,000 Accounts receivable 1,000,000 Inventories 800,000 Prepaid rent 50,000 Interest rate swap receivable 200,000 Investment in debt securities – FVTOCI 400,000 Investment in debt securities – AC 300,000 Land 2,000,000 Buildings 3,000,000 Machinery and equipment 1,500,000 Patents 250,000
Use the information below for Harding Company to answer the question that follow. Harding Company Accounts payable $34,944 Accounts receivable 69,094 Accrued liabilities 6,969 Cash 17,451 Intangible assets 38,664 Inventory 76,507 Long-term investments 106,760 Long-term liabilities 76,378 Marketable securities 37,920 Notes payable (short-term) 20,617 Property, plant, and equipment 699,093 Prepaid expenses 2,696 Based on the data for Harding Company, what is the amount of working capital? a.$1,048,185 b.$203,668 c.$141,138 d.$696,397
Sherwood, Inc., the parent company of Frito-Lay snack foods and Sherwood beverages, had the following current assets and current liabilities at the end of two recent years: Line Item Description Current Year(in millions) Previous Year(in millions) Cash and cash equivalents $4,611 $4,986 Short-term investments, at cost 3,275 9,259 Accounts and notes receivable, net 10,411 9,497 Inventories 1,445 963 Prepaid expenses and other current assets 481 356 Short-term obligations 385 4,089 Accounts payable 9,245 9,101 a. Determine the (1) current ratio and (2) quick ratio for both years. Round your answers to one decimal place. Line Item Description Current Year Previous Year 1. Current ratio ? ? 2. Quick ratio ? ? slightly over this time period. Both the current and quick ratios have fill in the blank 2 of 4 . Sherwood is a fill in the blank 3 of 4 company with fill in the blank 4 of 4 resources…
Malibu Inc. reported the following (in millions) on its year-end balance sheet: Total liabilities $4,086. Total shareholders’ equity $2,528.2 What proportion of Malibu Inc. is financed by nonowners? a. 38.2% b. 61.9% c. 61.8% d. 78.6%
Phillips, Inc. had the following financial data for the year ended December 31, 2025. Cash $42,000 Cash equivalents 78,000 Long term investments 58,000 Total current liabilities 150,000 What is the cash ratio as of December 31, 2025, for Phillips, Inc.? (Round your answer to two decimal places.) A. 0.80 B. 0.46 C. 0.28 D. 0.39
Below is the financial information for AXZ Corporation for fiscal year-ending June 30, 2020. (Amounts in millions $s) Cash flows from operations $2,908.3 Total revenues 14,892.2 Shareholders’ equity 4,482.3 Cash flows from financing (110.0) Total liabilities 7,034.4 Cash, ending year 2,575.7 Expenses 14,883.4 Noncash assets 8,941.0 Cash flows from investing (1,411.2) Net earnings 8.8 Cash, beginning year 1,188.6 Required: Using the information above, prepare the company’s: Balance sheet as of June 30, 2020. Income Statement for the fiscal year ended June 30, 2020. Cash Flow Statement for the fiscal year ending June 30, 2020.
Presented below are the captions of Faulk Company’s balance sheet. Indicate where each of the following items would be classified. Balance Sheet Accounts Balance Sheet Classification 1. Preferred stock. 2. Goodwill. 3. Salaries and wages payable 4. Accounts payable. 5. Buildings. 6. Equity investments (to be sold within one year). 7. Current maturity of long-term debt. 8. Premium on bonds payable. 9. Allowance for doubtful accounts. 10. Accounts receivable. 11. Cash surrender value of life insurance. 12. Notes payable (due next year). 13. Supplies. 14. Common stock. 15. Land. 16. Bond sinking fund. 17. Inventory. 18. Prepaid insurance. 19. Bonds payable. 20. Income taxes payable.
The financial statements of TVS Motors report the following information (all values are in millions). Revenue: Rs. 112246, PBDIT: Rs. 8020, PBIT: Rs. 6100 and PBT: Rs. 5650. Shareholders Fund: Rs. 19368, Non-current liabilities: Rs. 9240, and Current liabilities: Rs. 18850. Due to financial leverage, how much the equity owners of TVS Motors gained (measured as difference between ROCE and cost of debt times Financial Leverage)? 3.43% 7.85% 15.92% 28.70%
Based on the following information, Cash collections from customers $1296 Purchase of bond investment 295 Depreciation expense 91 Sale of used equipment 510 Dividends received 58 Treasury stock purchased 473 The cash flows from investing activities under GAAP are $_________

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