Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1/Bronco Electronics' current assets consist of cash, marketable securities, accounts receivable, and inventories. The following data were abstracted from a recent financial statement: Inventories $

1/Bronco Electronics' current assets consist of cash, marketable securities, accounts receivable, and inventories. The following data were abstracted from a recent financial statement:

Inventories $ 155,000
Total assets $ 1,430,000
Current ratio 3.3
Acid-test ratio 2.30
Debt to equity ratio 1.6

Required: Compute the long-term assets for Bronco:

Long-term assets

2/ Bronco Electronics' current assets consist of cash, marketable securities, accounts receivable, and inventories. The following data were abstracted from a recent financial statement:

Inventories $ 170,000
Total assets $ 1,520,000
Current ratio 3.7
Acid-test ratio 2.45
Debt to equity ratio 1.5

Required: Compute the long-term liabilities for Bronco:

Long-term liabilities

3/ Spartan Sportswear's current assets consist of cash, marketable securities, accounts receivable, and inventories. The following data were abstracted from a recent financial statement:

Inventories $ 170,000
Total assets $ 845,000
Current ratio 3.40
Acid-test ratio 1.70
Debt to equity ratio 1.60

Required: Compute the long-term liabilities for Spartan:

Long-term liabilities

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Nike Inc Strategic Audit SWOT Pestle Competitor And Financial Analysis

Authors: Bankim Chandra Pandey

1st Edition

1973352516, 978-1973352518

More Books

Students also viewed these Accounting questions