The top part of Ramakrishnan, Inc.’s 2021 and 2020 balance sheets is listed below (in millions of dollars). 2021 2020 2021 2020 Current assets: Current liabilities: Cash and marketable securities $ 62 $ 53 Accrued wages and taxes $ 46 $ 45 Accounts receivable 157 142 Accounts payable 101 90 Inventory 220 201 Notes payable 62 54 Total $ 439 $ 396 Total $ 209 $ 189 Calculate Ramakrishnan, Inc.’s current ratio for 2021 and 2020. (Round your answers to 2 decimal places.) 2021 = _______ times 2020 = _______ times Calculate Ramakrishnan, Inc.’s quick ratio for 2021 and 2020. (Round your answers to 2 decimal places.) 2021 = _______ times 2020 = _______ times Calculate Ramakrishnan, Inc.’s cash ratio for 2021 and 2020. (Round your answers to 2 decimal places.) 2021 = ________ times 2020 = ________ times
The top part of Ramakrishnan, Inc.’s 2021 and 2020 balance sheets is listed below (in millions of dollars). 2021 2020 2021 2020 Current assets: Current liabilities: Cash and marketable securities $ 62 $ 53 Accrued wages and taxes $ 46 $ 45 Accounts receivable 157 142 Accounts payable 101 90 Inventory 220 201 Notes payable 62 54 Total $ 439 $ 396 Total $ 209 $ 189 Calculate Ramakrishnan, Inc.’s current ratio for 2021 and 2020. (Round your answers to 2 decimal places.) 2021 = _______ times 2020 = _______ times Calculate Ramakrishnan, Inc.’s quick ratio for 2021 and 2020. (Round your answers to 2 decimal places.) 2021 = _______ times 2020 = _______ times Calculate Ramakrishnan, Inc.’s cash ratio for 2021 and 2020. (Round your answers to 2 decimal places.) 2021 = ________ times 2020 = ________ times
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter9: Long-term Liabilities
Section: Chapter Questions
Problem 89E: Ratio Analysis Rising Stars Academy provided the following information on its 2019 balance sheet and...
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The top part of Ramakrishnan, Inc.’s 2021 and 2020 balance sheets is listed below (in millions of dollars).
| 2021 | 2020 | 2021 | 2020 | ||||||
| Current assets: | Current liabilities: | ||||||||
| Cash and marketable securities | $ | 62 | $ | 53 | Accrued wages and taxes | $ | 46 | $ | 45 |
| Accounts receivable | 157 | 142 | Accounts payable | 101 | 90 | ||||
| Inventory | 220 | 201 | Notes payable | 62 | 54 | ||||
| Total | $ | 439 | $ | 396 | Total | $ | 209 | $ | 189 |
-
Calculate Ramakrishnan, Inc.’s current ratio for 2021 and 2020. (Round your answers to 2 decimal places.)
- 2021 = _______ times
- 2020 = _______ times
-
Calculate Ramakrishnan, Inc.’s quick ratio for 2021 and 2020. (Round your answers to 2 decimal places.)
- 2021 = _______ times
- 2020 = _______ times
-
Calculate Ramakrishnan, Inc.’s cash ratio for 2021 and 2020. (Round your answers to 2 decimal places.)
- 2021 = ________ times
- 2020 = ________ times
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