Taylor Machines Company has the following condensed balance sheet on December 31, 2000: G@lmrentiaSsetsieaaccsneenerteses $ 12,400 Current
Question:
Taylor Machines Company has the following condensed balance sheet on December 31, 2000:
G@lmrentiaSsetsieaaccsneenerteses $ 12,400 Current liabilities 0.0.0.0... $ 5,800 Noncurrent assets .....s.ssseeeees 91,200 Noncurrent liabilities ...........s0 36,700 Totalwbiabllities escercearsseorerseesrresesns $ 42,500 T. Taylor, Capital....ssesccsseecssssecrsseeseens 61,100 Total Liabilities and MotaliAssetsr-rarmatsrantaccese $103,600 Owner's Equity ...c-secssesssserseerneeess $103,600 The company’s quick assets are 60% of its current assets.
Required: Compute the company’s working capital and its current, quick, and debt ratios at the end of 2000.
Step by Step Answer:
Accounting Information For Business Decisions
ISBN: 9780030224294
1st Edition
Authors: Billie Cunningham, Loren A. Nikolai, John Bazley