Following is the current assets and current liabilities portion of the balance sheet of Caribou Coffee for
Question:
Following is the current assets and current liabilities portion of the balance sheet of Caribou Coffee for the years ended January 1, 2012, and January 2, 2011:
Required
Determine the company's current ratio for each fiscal year. What do the ratios indicate about the liquidity of the company? What were the major causes for any changes in liquidity?
Transcribed Image Text:
Caribou Coffee Company, Inc. and Affiliates Consolidated Balance Sheets January 1, 2012 January 2, 201 In thousands except per share data Current assets Cash and cash equivalents Accounts receivable, net Other receivables, net Inventories Deferred tax assetscurrent Prepaid expenses and other current assets 44,495 14,646 1.743 22,965 6,766 1,514 92,129 S 23,092 8,096 1,227 25,931 1,122 59,468 Total current assets Property and equipment, net of accumulated 41,075 837 depreciation and amortization Restricted cash Deferred tax assets non-current Other assets 36,965 13,947 323 $143,364 345 $101,725 Total assets Current liabilities Accounts payable Accrued compensation Accrued expenses Deferred revenue $ 10,480 6,272 8,502 8,591 $ 33,845 $ 8,080 5,954 6,916 8,726 S 29.676 Total current liabilities
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 69% (13 reviews)
Current ratio for January 1 2012 Current AssetsCurrent Liabilities 9212933845 272 Current ...View the full answer
Answered By
Irfan Ali
I have a first class Accounting and Finance degree from a top university in the World. With 5+ years experience which spans mainly from the not for profit sector, I also have vast experience in preparing a full set of accounts for start-ups and small and medium-sized businesses. My name is Irfan Ali and I am seeking a wide range of opportunities ranging from bookkeeping, tax planning, business analysis, Content Writing, Statistic, Research Writing, financial accounting, and reporting.
4.70+
249+ Reviews
530+ Question Solved
Related Book For
Financial Accounting The Impact On Decision Makers
ISBN: 9781305793194
10th Edition
Authors: Gary A. Porter, Curtis L. Norton
Question Posted:
Students also viewed these Cost Accounting questions
-
The current assets and current liabilities for Apple Computer, Inc., and Dell Inc. are shown as follows at the end of a recent fiscal period: (a) Determine the quick ratio for both companies.(b)...
-
The current assets and current liabilities sections of the balance sheet of Allessandro Scarlatti Company appear as follows. The following errors in the corporations accounting have been discovered:...
-
The following accounting information exists for Charles and James companies at the end of 2016: Required a. Identify the current assets and current liabilities and compute the current ratio for each...
-
In Exercises find the extrema and the points of inflection (if any exist) of the function. Use a graphing utility to graph the function and confirm your results. f(x) = xe-x
-
In Solved Problem 10-3, nonlinear programming was used to find the best value for the smoothing constant, ( in an exponential smoothing forecasting problem. To see how much the MAD can vary due to...
-
Record the following details relating to a carpet wholesaler for the month of November and extract a trial balance as at 30 November. Nov 1 Started in business with \( 15,000\) in the bank. 3 Bought...
-
Identify the five Cs of credit using a graphic organizer. Then rate yourself.
-
Impairment of Debt Securities Cairo Corporation has municipal bonds classified as available for-sale at December 31, 2010. These bonds have a par value of $800,000, an amortized cost of $800,000, and...
-
Please use commas and dollar sign for each figure. Windsor Inc. follows IFRS and has adopted the policy of classifying interest paid as operating activities and dividends paid as ?nancing...
-
Sam is in his final year of college and is trying to schedule his courses for the year. He has narrowed his search to 16 courses, each of which is offered in at least one time slot (out of a possible...
-
Tuscon Inc. sold merchandise for $6,000 to P. Paxton on July 31, 2016, with payment due in 30 days. Subsequent to this, Paxton experienced cash-flow problems and was unable to pay its debt. On...
-
Following are excerpts from the notes that accompanied the financial statements of Hewlett-Packard for the year ended October 31, 2014. Copyright Levies. As described below, proceedings are ongoing...
-
What key elements should be included in the DR policy?
-
In traffic knowledge, people talk about reaction distance,braking distance and stopping distance. From the moment the driverdiscovers the danger until he reacts, it takes a certain reactiontime. The...
-
Use the information below to answer the two questions that follow. Atwood Corporation uses the weighted-average method in its process-costing system. Operating data for the first department for May...
-
Q. 1. Table 1 below provides specifications for a Cessna 172 and a Boeing 747. For each aircraft, calculate the range using the appropriate Breguet range equation. Cessna 172 Boeing 747 Empty Weight...
-
Write functions to perform Depth-First Search (DFS) and Breadth-First Search (BFS) on a graph represented as an adjacency list .
-
Henry would like to have a retirement income of $3,000 per month (month-end payments). How much must he have in his retirement fund on the day that he retires if he plans to live for 27 years? Assume...
-
The total profit P(x) (in thousands of dollars) from the sale of x hundred thousand automobile tires is approximated by P(x) = -x 3 + 9x 2 + 120x - 400, x 5. Find the number of hundred thousands of...
-
The Home Depot is the leading retailer in the home improvement industry and one of the 10largest retailers in the United States. The company included the following on its January 29, 2012, balance...
-
Why do many companies use one method to calculate depreciation for the income statement developed for stockholders and another method for income tax purposes?
-
What should a company do if it finds that the original estimate of the life of an asset or the residual value of the asset must be changed?
-
The following current items, listed in alphabetical order, are taken from the consolidated balance sheets of Starwood Hotels & Resorts Worldwide, Inc. as of December 31, 2008, and Marriott...
-
Finite element formulations in two dimensions can only be constructed as a mappings from a bi-unit square domain. False True
-
Online Driver Education Course with 6 Hours of Training Chapter 12 QUIZ Question 1 to 10 1. Always look carefully for motorcycles before you change lanes because: Their smaller size makes them harder...
-
Consider the price - taker market for dress shirts. The following graph shows the marginal cost ( MC MC ) , average total cost ( ATC ATC ) , and average variable cost ( AVC AVC ) curves for a typical...
Study smarter with the SolutionInn App