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Business
AccountingSurvey of Accounting (Accounting I)8th Edition

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Chapter 9, Problem 9.3.1P
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Survey of Accounting (Accounting I)

8th Edition
Carl Warren
ISBN: 9781305961883

Solutions

Chapter
Section
Problem 1SEQ
Problem 2SEQ
Problem 3SEQ
Problem 4SEQ
Problem 5SEQ
Problem 1CDQ
Problem 2CDQ
Problem 3CDQ
Problem 4CDQ
Problem 5CDQ
Problem 6CDQ
Problem 7CDQ
Problem 8CDQ
Problem 9CDQ
Problem 10CDQ
Problem 11CDQ
Problem 12CDQ
Problem 13CDQ
Problem 14CDQ
Problem 15CDQ
Problem 16CDQ
Problem 17CDQ
Problem 9.1E
Problem 9.2E
Problem 9.3E
Problem 9.4E
Problem 9.5E
Problem 9.6E
Problem 9.7E
Problem 9.8E
Problem 9.9E
Problem 9.10E
Problem 9.11E
Problem 9.12E
Problem 9.13E
Problem 9.14E
Problem 9.15E
Problem 9.16E
Problem 9.17E
Problem 9.18E
Problem 9.19E
Problem 9.20E
Problem 9.21E
Problem 9.22E
Problem 9.23E
Problem 9.1.1P
Problem 9.1.2P
Problem 9.2.1P
Problem 9.2.2P
Problem 9.3.1P
Problem 9.3.2P
Problem 9.4.1P
Problem 9.4.2P
Problem 9.4.3P
Problem 9.4.4P
Problem 9.4.5P
Problem 9.4.6P
Problem 9.4.7P
Problem 9.4.8P
Problem 9.4.9P
Problem 9.4.10P
Problem 9.4.11P
Problem 9.4.12P
Problem 9.4.13P
Problem 9.4.14P
Problem 9.4.15P
Problem 9.4.16P
Problem 9.4.17P
Problem 9.4.18P
Problem 9.4.19P
Problem 9.4.20P
Problem 9.5.1P
Problem 9.5.2P
Problem 9.1C
Problem 9.2C
Problem 9.3C
Problem 9.4.1C
Problem 9.4.2C
Problem 9.4.3C
Problem 9.5.1C
Problem 9.5.2C
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Survey of Accounting (Accounting I)

8th Edition
Carl Warren
ISBN: 9781305961883
Textbook Problem

Effect of transactions on current position analysis
Data pertaining to the current position of Newlan Company are as follows:


Instructions
Compute (a) the working capital, (h) the current ratio, and (c) the quick ratio.

To determine

Concept Introduction:

Current Ratio:

Current Ratio is measure of the company's ability to pay off its current liabilities using its current assets. It is calculated by dividing the total current assets by total current liabilities. The formula of the current ratio is as follows:

  Current Ratio=Current assetsCurrent liabilities

Acid test ratio:

Acid test ratio is also called Quick ratio. This ratio is calculated by dividing the quick assets (Cash, Cash equivalents, Short term investments and current receivables) by total current liabilities for the year. The formula for Acid test ratio is as follows:

  Acid test ratio = (Cash + Cash equivalents + Short term investments + Accounts receivables) Current Liabilities

To Calculate:

The working capital, current ratio, and quick ratio.

Explanation

The working capital, current ratio, and quick ratio are calculated as follows:

    Current Assets:
    Cash $ 80,000
    Temporary Investments $ 160,000
    Accounts and Notes Receivables (net) $ 235,000
    Total Quick Assets (A) $ 475,000
    Add: Inventories $ 190,000
    Add: Prepaid Expense $ 10,000
    Total Current Assets (B) $ 675,000

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Chapter 9,
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Chapter 9 Solutions

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Ch-9 P-1SEQCh-9 P-2SEQCh-9 P-3SEQCh-9 P-4SEQCh-9 P-5SEQCh-9 P-1CDQCh-9 P-2CDQCh-9 P-3CDQCh-9 P-4CDQCh-9 P-5CDQ
Ch-9 P-6CDQCh-9 P-7CDQCh-9 P-8CDQCh-9 P-9CDQCh-9 P-10CDQCh-9 P-11CDQCh-9 P-12CDQCh-9 P-13CDQCh-9 P-14CDQCh-9 P-15CDQCh-9 P-16CDQCh-9 P-17CDQCh-9 P-9.1ECh-9 P-9.2ECh-9 P-9.3ECh-9 P-9.4ECh-9 P-9.5ECh-9 P-9.6ECh-9 P-9.7ECh-9 P-9.8ECh-9 P-9.9ECh-9 P-9.10ECh-9 P-9.11ECh-9 P-9.12ECh-9 P-9.13ECh-9 P-9.14ECh-9 P-9.15ECh-9 P-9.16ECh-9 P-9.17ECh-9 P-9.18ECh-9 P-9.19ECh-9 P-9.20ECh-9 P-9.21ECh-9 P-9.22ECh-9 P-9.23ECh-9 P-9.1.1PCh-9 P-9.1.2PCh-9 P-9.2.1PCh-9 P-9.2.2PCh-9 P-9.3.1PCh-9 P-9.3.2PCh-9 P-9.4.1PCh-9 P-9.4.2PCh-9 P-9.4.3PCh-9 P-9.4.4PCh-9 P-9.4.5PCh-9 P-9.4.6PCh-9 P-9.4.7PCh-9 P-9.4.8PCh-9 P-9.4.9PCh-9 P-9.4.10PCh-9 P-9.4.11PCh-9 P-9.4.12PCh-9 P-9.4.13PCh-9 P-9.4.14PCh-9 P-9.4.15PCh-9 P-9.4.16PCh-9 P-9.4.17PCh-9 P-9.4.18PCh-9 P-9.4.19PCh-9 P-9.4.20PCh-9 P-9.5.1PCh-9 P-9.5.2PCh-9 P-9.1CCh-9 P-9.2CCh-9 P-9.3CCh-9 P-9.4.1CCh-9 P-9.4.2CCh-9 P-9.4.3CCh-9 P-9.5.1CCh-9 P-9.5.2C

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