29 Jun Question A company has $56,000 in cash; $12,000 in accounts receivable; $25,000 in short-term investments; and $100,000 in merchandise inventory. The company also has $60,000 in current lia
Question
A company has $56,000 in cash; $12,000 in accounts receivable; $25,000 in short-term investments; and $100,000 in merchandise inventory. The company also has $60,000 in current liabilities. The company’s quick ratio is
A.3.217.
B.1.550.
C.0.933.
D.1.133.
Patty’s Baker has cost of goods sold for the years 2011, 2010, and 2009, respectively, of $28,600, $26,900, and $25,600. If 2009 is the base year, the trend percentage for 2011 is
A.11.72%.
B.111.72%.
C.5.08%.
D.105.08%.
If total assets are $6,000, what is the common-size figure of cash, assuming that cash has a balance of $2,400?
A.100.0%
B.40.0%
C.120.0%
D.60.0%
Operating cash flows affect
A.current assets and current liabilities.
B.equity accounts.
C.long-term liability accounts.
D.long-term asset accounts.
If current assets were $100,000 in 2009 and $88,000 in 2010, what was the amount of increase or decrease in percentage terms from 2009 to 2010? (Round to the nearest percent.)
A.Increase of 14%
B.Increase of 12%
C.Decrease of 12%
D.Decrease of 14%
Casey Company has an accounts receivable turnover of 36 days, an inventory turnover of 77 days, and an accounts payable turnover of 40 days. Casey’s cash conversion cycle is _______ day(s).
A.81
B.1
C.73
D.153
Casey Company has 5,000 shares of treasury cost that it purchased for $13 per share. It later resold 2,000 of those shares for $17 per share. The amount to be credited to Paid-in Capital—Treasury Sto
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