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Assets Current assets Cash Accounts receivable Inventory Total 2020 $ 11,000 $14,250 27,000 36,750 75,000 96,250 $ 113,000 $147,250 Total assets 2021 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Net plant and equipment $287,000 $352,750 Total 2020 $ 400,000 500,000 Total liabilities and owners' equity Based on the balance sheets given for Just Dew It . Calculate the current ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) . Calculate the quick ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Calculate the cash ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) 1. Calculate the NWC to total assets ratio for each year. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) Total Long-term debt Owners' equity Common stock and paid-in surplus $55,000 $ 55,000 Retained earnings 226,200 320,750 $281,200 e. Calculate the debt-equity ratio and equity multiplier for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Calculate the total debt ratio and long-term debt ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) 2021 $ 54,000 $63,750 14,800 20,500 2021 2020 $ 68,800 $ 84,250 $ 50,000 $40,000 $ 375,750 400,000 500,000

Assets Current assets Cash Accounts receivable Inventory Total 2020 $ 11,000 $14,250 27,000 36,750 75,000 96,250 $ 113,000 $147,250 Total assets 2021 Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Net plant and equipment $287,000 $352,750 Total 2020 $ 400,000 500,000 Total liabilities and owners' equity Based on the balance sheets given for Just Dew It . Calculate the current ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) . Calculate the quick ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Calculate the cash ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) 1. Calculate the NWC to total assets ratio for each year. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) Total Long-term debt Owners' equity Common stock and paid-in surplus $55,000 $ 55,000 Retained earnings 226,200 320,750 $281,200 e. Calculate the debt-equity ratio and equity multiplier for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Calculate the total debt ratio and long-term debt ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) 2021 $ 54,000 $63,750 14,800 20,500 2021 2020 $ 68,800 $ 84,250 $ 50,000 $40,000 $ 375,750 400,000 500,000

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity
Section: Chapter Questions
Problem 16P: Ratios Analyses: McCormick Refer to the information for McCormick above. Additional information for...
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Assets Current assets Cash Accounts receivable Inventory Total Total assets 2020 $14,250 $ 11,000 27,000 36,750 75,000 96,250 $ 113,000 $147,250 a. Current ratio b. Quick ratio c. Cash ratio 2021 Net plant and equipment $287,000 $352,750 Total d. NWC ratio e. Debt-equity ratio e. Equity multiplier f. Total debt ratio f. Long-term debt ratio 400,000 500,000 Liabilities and Owners' Equity Current liabilities 2020 1.64 times 0.55 times 0.16 times 11.00 % Accounts payable Notes payable Based on the balance sheets given for Just Dew It: a. Calculate the current ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) b. Calculate the quick ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) c. Calculate the cash ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) d. Calculate the NWC to total assets ratio for each year. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) times times times times e. Calculate the debt-equity ratio and equity multiplier for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) f. Calculate the total debt ratio and long-term debt ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Total Long-term debt Owners' equity Common stock and paid-in surplus $ 55,000 $ 55,000 Retained earnings 226,200 320,750 Total liabilities and owners' equity 2021 $ 54,000 $63,750 14,800 20,500 2021 1.75 times 0.61 times 0.16 times % times times times times 2020 $ 68,800 $ 84,250 $ 50,000 $40,000 $ 281,200 375,750 400,000 500,000
Transcribed Image Text:Assets Current assets Cash Accounts receivable Inventory Total Total assets 2020 $14,250 $ 11,000 27,000 36,750 75,000 96,250 $ 113,000 $147,250 a. Current ratio b. Quick ratio c. Cash ratio 2021 Net plant and equipment $287,000 $352,750 Total d. NWC ratio e. Debt-equity ratio e. Equity multiplier f. Total debt ratio f. Long-term debt ratio 400,000 500,000 Liabilities and Owners' Equity Current liabilities 2020 1.64 times 0.55 times 0.16 times 11.00 % Accounts payable Notes payable Based on the balance sheets given for Just Dew It: a. Calculate the current ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) b. Calculate the quick ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) c. Calculate the cash ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) d. Calculate the NWC to total assets ratio for each year. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) times times times times e. Calculate the debt-equity ratio and equity multiplier for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) f. Calculate the total debt ratio and long-term debt ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Total Long-term debt Owners' equity Common stock and paid-in surplus $ 55,000 $ 55,000 Retained earnings 226,200 320,750 Total liabilities and owners' equity 2021 $ 54,000 $63,750 14,800 20,500 2021 1.75 times 0.61 times 0.16 times % times times times times 2020 $ 68,800 $ 84,250 $ 50,000 $40,000 $ 281,200 375,750 400,000 500,000
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