The Copper Grill has the following current assets: cash, $11 million; receivables, $44 million; inventory, $45 million; and other current
assets $3 million. The Copper Grill has the following liabilities: accounts payable, $37 million; current portion of long-term debt, $6
million; and long-term debt, $11 million.
Based on these amounts, calculate the current ratio and the acid-test ratio.
Based on these amounts, calculate the current ratio and the acid-test ratio for The Copper Grill. (Round your answers to 2 decimal
places.)
The Copper Grill
Current ratio
Acid-test ratio
Answer:
Current ratio:
Current ratio=current assets/ current liabilities
Current assets= 11 million + 55 million +40 million + 6 million= 112 million
Current liabilities= 37 million + 8 million= 45 million
Current ratio= 112 million/ 45 million= 2.49
The current ratio is a liquidity ratio that assesses a firm's capacity to pay short-term or one-year obligations. It explains to investors and other stakeholders how a firm might use current assets on its balance sheet to pay off current debt and other obligations.
The current ratio is called "current" because it includes all current assets and liabilities, unlike many other liquidity ratios. The working capital ratio is another name for the current ratio.
Analysts determine the ratio by comparing a company's current assets and liabilities. Cash, accounts receivable, inventory, and other current assets (OCA) that are projected to be liquidated or converted into cash in less than one year are reported as current assets on a firm's balance sheet. Accounts payable, wages, taxes payable, short-term loans, and the current portion of long-term debt are all examples of current liabilities.
Acid-test ratio
Acid test ratio= quick assets/ current liabilities
Quick assets= 11 million+ 55 million= 66 million
Current liabilities= 45 million
Acid test ratio= 66 million/ 45 million= 1.47
The acid-test ratio (ATR), also known as the quick ratio, calculates how well current assets can pay current obligations to determine a company's liquidity. Only the most liquid current assets that can be turned into cash in 90 days or less are used in the quick ratio.
The quick ratio is computed by dividing the total cash and equivalents, accounts receivables, and marketable investments by current liabilities.
Companies should aim for a ratio of 1.0 or above, indicating that they have sufficient current assets to meet their short-term debt commitments or expenses.
Explanation:
Current ratio= 112 million/ 45 million= 2.49
Acid test ratio= 66 million/ 45 million= 1.47
The current ratio and the acid-test ratio for The Copper Grill are 2.60 and 1.55 respectively.
What is a good current ratio?A healthy current ratio is between 1.2 and 2, indicating that the company has twice as many current assets as liabilities to cover its debts. A current ratio of less than one indicates that the company lacks sufficient liquid assets to satisfy its short-term liabilities.
Given
cash, $11 million
receivables, $44 million;
inventory, $45 million
other current assets $3 million
accounts payable, $37 million;
current portion of long-term debt, $6 million
long-term debt, $11 million
Required to Calculate the Current ratio and Acid-test ratio =?
Current ratio = Current Assets / Current Liability
Current Assets = cash + receivables + inventory + other current assets
= 11 + 44 + 45 + 3 = $112 million
Current Liability = accounts payable + current portion of long-term debt
= 37 + 6 = $43 million
Current ratio = Current Assets / Current Liability
Current ratio = 112 / 43 = 2.60
Acid-test ratio = Current Assets - Inventory / Current Liability
= 112 - 45 / 43
Acid-test ratio = 1.55
Thus, The Copper Grill's current ratio and acid-test ratio are 2.60 and 1.55, respectively. The current ratio calculates a company's ability to pay short-term or current liabilities, such as payables and loans, with short-term or current assets, such as receivables, inventories, and cash.
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where does the 32 come from in cash received for common stock issued
Consider a favorite product or service of yours. What is it you value, and what matters most? Can you develop clear requirements from this? And Categorize your requirements revealed through the value you perceive into ‘Basic Quality’, ‘Spoken Performance’, and ‘Excitement Quality’ features, 2-2) And Taking your example from questions 1 put yourself in the place of the supplier; how might you access customer requirements such as the ones you noted?
Based on the information given, a favorite product of mine will be a mobile phone and it provides me with several values.
The values that can be gotten from the mobile phones will be:
I can make calls and send text messages.I can manage professional meetings and emails.I can make purchases on online stores. I can capture photos and videos.Also, the most important feature of the mobile phone that I like is the camera and its connectivity.
Lastly, the requirements that I like in a phone include camera features, clarity of calls and ease of access.
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explain the appearance of earthworm in brief
Explanation:
An earthworm is a terrestrial invertebrate that belongs to the phylum Annelida. They exhibit a tube-within-a-tube body plan, are externally segmented with corresponding internal segmentation, and usually have setae on all segments. They occur worldwide where soil, water, and temperature allow
What affects the egg coagulation in custards and creams!
Help help help help help help
Answer:
37%
Explanation:
I did the division 290/780*100. Mark brainliest if this answer helped you
suppose you want to change your school and join another one which is very expensive.make a list of the possible risks while joining another school.
Answer:
getting bullied being lonely no friends not fitting in
Explanation:
Which type of listening occurs when we are focused on sharing our own point of view instead of listening to someone else?
Answer:
pwede ba po tagalog
nalang pwede
Why should a country trade with other
nations?
A. to import as much as possible from other countries
B. to export 30% of production and stimulate
economic growth
C. to take advantage of the production strengths of
each country
Products that a seller sells in other countries are called
A. imports.
B. exports.
c. trade barriers.
D. quotas.
Answer:
im pretty sure it is A thx
Answer:
B. exports
Explanation:
It's leaving the country that the seller resides in.
Suppose the supply and demand equation are given as follow:
Demand: Qd=115-2*p
Supply: Qs=13+3*p
What's the equilibrium price? (Hint: enter your answer in 2 decimal places)
Your Answer:
Answer
Answer:
$20.40
Explanation:
The supply and the demand equations are given as:
Qd = 115 - 2p
Qs = 13 + 3p
The equilibrium point is when both equations are equal.
So, we have
115 - 2p = 13 + 3p
Collect like terms
3p +2p = 115 - 13
5p = 102
Divide both sides by 5
p = 20.40
Hence, the equilibrium price is $20.40
Miguel's lab group is conducting an experiment that involves dissolving different amounts of sugar and salt in test tubes. Which safety procedure is the MOSTappropriate for this experiment?
Answer:
Use a lead apron to protect against radiation.
Explanation:
Which of the following statements is true regarding Laura, an individual taxpayer who dies in 2021 with a gross estate of $10,000,000?
a. No estate tax will be due if Laura has no prior year transfers.
b. For estates of any decedent passing away in calendar year 2020, the basic exclusion amount is $10,000,000.
c. Laura will owe estate tax because her estate is more than $5,000,000 in 2020.
d. Estate tax is due because $10,000,000 is less than Laura's basic exclusion amount.
Based on current tax laws, a. No estate tax will be due if Laura has no prior year transfers.
From the year 2018 to 2025:
Single taxpayer estates have a basic exemption of $11.58 million Married taxpayer estates have a basic exemption of $22.36 millionThis means that if Laura's estate made no transfers in prior years, her estate would be below the exemption amount of $11.58 million and there would be no estate tax.
In conclusion, there would be no estate tax.
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All goods to be imported whether or not subject to import duties must be declared in writing on prescribed forms.
The following is information concerning a product manufactured by Ames Brothers. Sales price per unit $ 79 Variable cost per unit 43 Total fixed manufacturing and operating costs (per month) 410,000 a. Determine the unit contribution margin. b. Determine the number of units that must be sold each month to break even. (Round your answer to the nearest whole number.) c. Determine the number of units that must be sold to earn an operating income of $234,000 per month. (Round your answer to the nearest whole number.
a. The determination of the unit contribution margin is $36 per unit ($79 - $43).
b. The determination of the units to be sold for the company to break-even in units is (Fixed costs/contribution margin per unit)
= 11,389 units ($410,000/$36).
c. The determination of units to sell to earn an operating income of $234,000 is (Fixed costs + Operating income)/Contribution margin per unit
= 17,889 units ($410,000 + $234,000)/$36.
Data and Calculations:
Sales price per unit = $79
Variable cost per unit = $43
Contribution margin per unit = $36 ($79 - $43)
Fixed manufacturing and operating costs per month = $410,000
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1. WHO CAN DO AFFILIATE MARKETING?
Answer:
anyone
Explanation:
is this the only question?
100 points!
Will report if fake answer
A more wordy and complex way to say "we are cringe"
Answer:
We are excruciatingly awkward and humiliated
Answer:
we are extremely embarrassing
we make you feel tremendously uncomfortable
Explanation:
Help help help hep help
If one’s income increases their aggregate demand Also increases as they both have direct relationship with each other.
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explain the advantages of earthworm farming
Answer:
Worms help to increase the amount of air and water that gets into the soil. They break down organic matter, like leaves and grass into things that plants can use. When they eat, they leave behind castings that are a very valuable type of fertilizer. Earthworms are like free farm help.
Explanation:
Can you give me brainliest
Help help help help bell businesses
Question
Monetary policy can be either expansionary (growing)or contractionary (becoming smaller).
what is the purpose of expansionary monetary policy?
Answer:
C. to increase real output in the economy
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carryonlearing
Bitcoin is a type of
A. biometric authentication
B. blockchain
C. credit card
D. cryptocurrency
Bitcoin is a type of cryptocurrency, which is a virtual currency designed to act as money outside the control of any one person which removes the need for third-party involvement in financial transactions.
How is Bitcoin a type of cryptocurrency?Blockchain is the technology that allows cryptocurrency to exist (among other things). Bitcoin is the name of the most well-known cryptocurrency, for which blockchain technology as we know it was developed.
A cryptocurrency, like the US dollar, is a medium of exchange that is digital and uses cryptographic techniques and a protocol to verify the transfer of funds and control the creation of monetary units.
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Management of Wee Ones (WO), an operator of day-care facilities, wants the company's profit to be subdivided by center. The firm's accountant has provided the following data:
Center Budgeted Revenue Actual Revenue Budgeted Direct Costs Actual Direct Costs Downtown $ 342,000 $ 363,300 $ 310,000 $ 347,600 Irvine 598,500 622,800 573,500 521,400 H. Beach 769,500 743,900 666,500 711,000 Totals $ 1,710,000 $ 1,730,000 $ 1,550,000 $ 1,580,000
WO's advertising, which is handled by the home office, is not reflected in the preceding figures and amounted to $74,000. Assume that management used the allocation base that is most influenced by advertising effort and consistent with sound managerial accounting practices. How much advertising would be allocated to the Irvine center?
Help help help help help help straightforward answer
Answer is:
C. interest
cost of good s sold RS 80700 opening stock RS 5800 closing stock RS 6000.what is the amount of purchase ?
Answer:80900
Explanation:
Inventory at the beginning of the period = COGS + Inventory at the end of the period-Purchase
5800=80700+6000-P
This SKU has an inconsistent product classification with the ASIN. Please submit a feed to update this SKU to match the ASIN product classification
It should be noted that a stock-keeping unit (SKU) means a scannable bar code that is usually seen on product labels that are in a retail store.
Your information is incomplete. Therefore, an overview of SKU will be given. The stock-keeping unit (SKU) allows vendors to be able to track the movement of their inventory.
On the other hand, ASIN stands for Amazon Standard Identification Number. It is a ten letters unique identifier for a product that is given by Amazon.
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the answer I think is c
Explanation:
for the reason I have no clue I just joined and said to do this so just ignore me
The Jehan Division of a company manufactures and sells Product A. The current selling price
is $73 per unit. Per-unit costs are as follows:
Direct materials $ 5.00
Direct labor 6.00
Manufacturing overhead:
Variable 7.00
Fixed 8.00
Selling costs:
Commissions 1.00
Shipping 1.50
Fixed 1.00
$ 29.50
The contribution margin per unit is: $____________
CONSIDER THE FOLLOWING QUESTIONS
1. A special one-time order to purchase 20,000 units was recently received at a price of $60 per unit. There is enough capacity to fill the order and filling this order will NOT disrupt current operations. If BLUE accepts this order, variable manufacturing costs will be reduced by $5 per unit and variable selling costs (both commission and shipping) will go down by 80%.
Is there an opportunity cost to BLUE, yes or no, and WHY?
________ (yes or no)
Answer: yes
Explanation: i dont understand what you said below but its yes
Answer:
$20.50 per unit
Explanation:
The minimum acceptable selling price is equal to the variable cost per unit
Variable Cost per unit =$5.00+6.00+7.00+1.00+1.50 =$20.50
So the Minimum Selling Price shall be $20.50 per unit
$1,000 par value zero coupon bonds, ignore liquidity premiums Bond Years to maturity Yield to Maturity A 1 6.00% B 2 7.50% C 3 7.99% D 4 8.49% E 5 10.70% The expected one-year interest rate three years from now should be about _________. 8.00% 7.00 % 9.00% 10.00%
The _____________ and ______________ provide specific guidelines regarding minimum identification requirements for clients who complete applications for financial products.
Based on existing rules and regulations, the Truth in Lending Act and Truth in Savings Act provide specific guidelines regarding minimum identification requirements for clients who complete applications for financial products.
The purpose of the Truth in Lending Act & Truth in Savings ActThe United States government explicitly made the Truth in Lending Act & Truth in Savings Act to enable customers or citizens to make informed financial decisions precisely when making applications for financial products.
It also requires financial institutions like banks to provide to consumers disclosures on terms and costs relating to deposit accounts, savings, and lending.
Hence, in this case, it is concluded that the correct answer is "Truth in Lending Act and Truth in Savings Act."
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