Assume that the current ratio for Arch Company is 3 0, its acid test ratio is 1 5, and its working capital is $370,000 Answer each of the following questions independently, always referring to the original information Required How much does the firm have in current liabilities (Do not round intermediate calculations ) If the only current assets shown on the balance sheet for Arch Company are Cash, Accounts Receivable, and Merchandise Inventory, how much does the firm have in Merchandise Inventory (Do not round intermediate calculations ) If the firm collects an account receivable of $105,000, what will its new current ratio and working capital be (Round Current ratio to 1 decimal place ) If the firm pays an account payable of $57,000, what will its new current ratio and working capital be (Do not round intermediate calculations Round Current ratio to 1 decimal place ) If the firm sells inventory that was purchased for $50,000 at a cash price of $60,000, what will its new acid test ratio be (Do not round intermediate calculations Round your answer to 1 decimal place ) Assume that the current ratio for Arch Company is 3 0, its acid test ratio is 1 5, and its working capital is $370,000 Answer each of the following questions independently, always referring to the original information Required How much does the firm have in current liabilities (Do not round intermediate calculations ) If the only current assets shown on the balance sheet for Arch Company are Cash, Accounts Receivable, and Merchandise Inventory, how much does the firm have in Merchandise Inventory (Do not round intermediate calculations ) If the firm collects an account receivable of $105,000, what will its new current ratio and working capital be (Round Current ratio to 1 decimal place ) If the firm pays an account payable of $57,000, what will its new current ratio and working capital be (Do not round intermediate calculations Round Current ratio to 1 decimal place ) If the firm sells inventory that was purchased for $50,000 at a cash price of $60,000, what will its new acid test ratio be (Do not round intermediate calculations Round your answer to 1 decimal place ) Assume that the current ratio for Arch Company is 3 0, its acid test ratio is 1 5, and its working capital is $370,000 Answer each of the following questions independently, always referring to the original information Required How much does the firm have in current liabilities (Do not round intermediate calculations ) If the only current assets shown on the balance sheet for Arch Company are Cash, Accounts Receivable, and Merchandise Inventory, how much does the firm have in Merchandise Inventory (Do not round intermediate calculations ) If the firm collects an account receivable of $105,000, what will its new current ratio and working capital be (Round Current ratio to 1 decimal place ) If the firm pays an account payable of $57,000, what will its new current ratio and working capital be (Do not round intermediate calculations Round Current ratio to 1 decimal place ) If the firm sells inventory that was purchased for $50,000 at a cash price of $60,000, what will its new acid test ratio be (Do not round intermediate calculations Round your answer to 1 decimal place ) Assume that the current ratio for Arch Company is 3 0, its acid test ratio is 1 5, and its working capital is $370,000 Answer each of the following questions independently, always referring to the original information Required How much does the firm have in current liabilities (Do not round intermediate calculations ) If the only current assets shown on the balance sheet for Arch Company are Cash, Accounts Receivable, and Merchandise Inventory, how much does the firm have in Merchandise Inventory (Do not round intermediate calculations ) If the firm collects an account receivable of $105,000, what will its new current ratio and working capital be (Round Current ratio to 1 decimal place ) If the firm pays an account payable of $57,000, what will its new current ratio and working capital be (Do not round intermediate calculations Round Current ratio to 1 decimal place ) If the firm sells inventory that was purchased for $50,000 at a cash price of $60,000, what will its new acid test ratio be (Do not round intermediate calculations Round your answer to 1 decimal place ) Assume that the current ratio for Arch Company is 3 0, its acid test ratio is 1 5, and its working capital is $370,000 Answer each of the following questions independently, always referring to the original information Required How much does the firm have in current liabilities (Do not round intermediate calculations ) If the only current assets shown on the balance sheet for Arch Company are Cash, Accounts Receivable, and Merchandise Inventory, how much does the firm have in Merchandise Inventory (Do not round intermediate calculations ) If the firm collects an account receivable of $105,000, what will its new current ratio and working capital be (Round Current ratio to 1 decimal place ) If the firm pays an account payable of $57,000, what will its new current ratio and working capital be (Do not round intermediate calculations Round Current ratio to 1 decimal place ) If the firm sells inventory that was purchased for $50,000 at a cash price of $60,000, what will its new acid test ratio be (Do not round intermediate calculations Round your answer to 1 decimal place ) a Current liabilities$185,000 b Merchandise inventory c Current ratio Working capital d Current ratio Working capital e Acid test ratio

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 23, 2024

Assume that the current ratio for Arch Company is 3.0, its acid-test ratio is 1.5, and its working capital is $370,000. Answer each of the

Assume that the current ratio for Arch Company is 3.0, its acid-test ratio is 1.5, and its working capital is $370,000. Answer each of the following questions independently, always referring to the original information. Required:

How much does the firm have in current liabilities? (Do not round intermediate calculations.)
If the only current assets shown on the balance sheet for Arch Company are Cash, Accounts Receivable, and Merchandise Inventory, how much does the firm have in Merchandise Inventory? (Do not round intermediate calculations.)
If the firm collects an account receivable of $105,000, what will its new current ratio and working capital be? (Round "Current ratio" to 1 decimal place.)
If the firm pays an account payable of $57,000, what will its new current ratio and working capital be? (Do not round intermediate calculations. Round "Current ratio" to 1 decimal place.)
If the firm sells inventory that was purchased for $50,000 at a cash price of $60,000, what will its new acid-test ratio be? (Do not round intermediate calculations. Round your answer to 1 decimal place.)

How much does the firm have in current liabilities? (Do not round intermediate calculations.)
If the only current assets shown on the balance sheet for Arch Company are Cash, Accounts Receivable, and Merchandise Inventory, how much does the firm have in Merchandise Inventory? (Do not round intermediate calculations.)
If the firm collects an account receivable of $105,000, what will its new current ratio and working capital be? (Round "Current ratio" to 1 decimal place.)
If the firm pays an account payable of $57,000, what will its new current ratio and working capital be? (Do not round intermediate calculations. Round "Current ratio" to 1 decimal place.)
If the firm sells inventory that was purchased for $50,000 at a cash price of $60,000, what will its new acid-test ratio be? (Do not round intermediate calculations. Round your answer to 1 decimal place.)

How much does the firm have in current liabilities? (Do not round intermediate calculations.)
If the only current assets shown on the balance sheet for Arch Company are Cash, Accounts Receivable, and Merchandise Inventory, how much does the firm have in Merchandise Inventory? (Do not round intermediate calculations.)
If the firm collects an account receivable of $105,000, what will its new current ratio and working capital be? (Round "Current ratio" to 1 decimal place.)
If the firm pays an account payable of $57,000, what will its new current ratio and working capital be? (Do not round intermediate calculations. Round "Current ratio" to 1 decimal place.)
If the firm sells inventory that was purchased for $50,000 at a cash price of $60,000, what will its new acid-test ratio be? (Do not round intermediate calculations. Round your answer to 1 decimal place.)

How much does the firm have in current liabilities? (Do not round intermediate calculations.)
If the only current assets shown on the balance sheet for Arch Company are Cash, Accounts Receivable, and Merchandise Inventory, how much does the firm have in Merchandise Inventory? (Do not round intermediate calculations.)
If the firm collects an account receivable of $105,000, what will its new current ratio and working capital be? (Round "Current ratio" to 1 decimal place.)
If the firm pays an account payable of $57,000, what will its new current ratio and working capital be? (Do not round intermediate calculations. Round "Current ratio" to 1 decimal place.)
If the firm sells inventory that was purchased for $50,000 at a cash price of $60,000, what will its new acid-test ratio be? (Do not round intermediate calculations. Round your answer to 1 decimal place.)

How much does the firm have in current liabilities? (Do not round intermediate calculations.)
If the only current assets shown on the balance sheet for Arch Company are Cash, Accounts Receivable, and Merchandise Inventory, how much does the firm have in Merchandise Inventory? (Do not round intermediate calculations.)
If the firm collects an account receivable of $105,000, what will its new current ratio and working capital be? (Round "Current ratio" to 1 decimal place.)
If the firm pays an account payable of $57,000, what will its new current ratio and working capital be? (Do not round intermediate calculations. Round "Current ratio" to 1 decimal place.)
If the firm sells inventory that was purchased for $50,000 at a cash price of $60,000, what will its new acid-test ratio be? (Do not round intermediate calculations. Round your answer to 1 decimal place.)