Credit Card of America (CCA) has a current ratio of 3.5 and a quick ratio of 3.0.

Question:

Credit Card of America (CCA) has a current ratio of 3.5 and a quick ratio of 3.0. If its total current assets equal $73,500, what are CCA’s

(a) Current liabilities

(b) Inventory?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

CFIN

ISBN: 978-1305666870

5th edition

Authors: Scott Besley, Eugene Brigham

See More Books

Question Posted: Jan 31, 2020 09:34 AM

See More Questions

A company has current assets that total $ 500,000, has a current ratio of 2.00, and uses the perpetual inventory method. Assume that the following transactions are then completed: (1) sold $ 12,000...
Anglo Corporation has a current ratio of 1.1. Jon has always been told that a corporation's current ratio should exceed 2.0. The company maintains that its ratio is low because it has a minimal...
Mosaic Music has a current ratio of 2.0 ($240,000 current assets $120,000 current liabilities). For each of the following transactions, determine whether the current ratio will increase, decrease,...
a. How could aspirin be synthesized, starting with benzene? b. Ibuprofen is the active ingredient in pain relievers such as Advil®, Motrin®, and Nuprin®. How could ibuprofen be...
Draw a 3-dimensional structure of a water molecule, including any lone pairs of electrons, and indicate the dipole moment. What is the name of the geometrical figure have you drawn?
Consider the following set of ordered pairs: x 3 6 2 4 4 y 5 6 4 6 2 Assuming that the regression equation is yn = 3.045 + 0.409x and the SSE = 9.727, construct a 95% confidence interval for x = 5....
How comfortable are you with silence? Provide an example to illustrate.
Determine the maturity date, interest in 2013 and 2014, and maturity value for a 90-day, 12 percent, $15,000 note from a customer dated December 1, 2013, assuming a December 31 year end. (Round to...
There is a Swedish subsidiary (Swedish SC) of a European firm. Swedish SC sells 7 million units, of which 3 million are sold at home and 4 million are exported, all units at krone (Kr) 17 per unit....
Complete the following table to indicate what effect an increase in each of the consumption components will have on consumption. Complete the blank area answer increase or decrease. An increase will...
Crooked Golfs most recent income statement shows that net income was $90,000, depreciation was $25,000, and taxes were $60,000. What was Crooked Golfs net cash flow?
The balance sheet for Panoramic Open Pictures (POP) shows $300,000 in total assets and $200,000 in total liabilities. POPs return on assets (ROA) is 5 percent. Compute POPs (a) Net income for the...
Laperla County entered into a capital lease on June 30, 20X8, for equipment to be used by General Fund departments. The capitalizable cost of the leased asset was $200,000. An initial payment of...
In a relational database, explain the difference between Inner join & Outer join. Provide an example query for each and describe the result set produced by each query.
What Is Chemical Energy? Definition and Examples
A study in Sweden looked at former elite soccer players, people who had played soccer but not at the elite level, and people of the same age who did not play soccer. Here is a two-way table that...
The value of a share of common stock depends on the cash flows it is expected to provide, and those flows consist of the dividends the investor receives each year while holding the stock and the...
Robust Robots (RR) recently issued 100,000 shares of common stock at $7 per share. The stock has a par value equal to $3 per share. What amount of the $700,000 that RR raised should be reported in...
Credit Card of America (CCA) has a current ratio of 3.5 and a quick ratio of 3.0. If its total current assets equal $73,500, what are CCAs (a) Current liabilities (b) Inventory?
At the end of the year, Water Works International (WWI) had $10,000 in total assets. Its total assets turnover was 2.5, and its return on assets (ROA) was 4 percent. What were WWIs (a) Sales revenues...
For a firm with the following characteristics, what is it's book value? Current assets = 8,000 Fixed assets = 10,000 Total assets = 18,000 Current liabilities = 5,000 Long term liabilities = 9,000...
Sonia wants to have $11,000 in 10 years. Use Table 11-2 to calculate how much she should invest now (in $) at 6% interest, compounded semiannually in order to reach this goal. (Round your answer to...
In 1975 the price of a new house was $45,665. In 2020 the price of a new house is $197,222. How much has the price of housing increased on average per year over the time period in percentage terms?...

Credit Card of America (CCA) has a current ratio of 3.5 and a quick ratio of 3.0.

Question:

Step by Step Answer:

a b Inventory 73500 3021000 10...View the full answer

CFIN

Students also viewed these Business questions