CASp 13 Exercise Chapter 1 Economics Flashcards Qui Chapter 13 Exercise Saved Hel Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indic 4 Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity Current Yr 1 Yr Ago 2 Yrs Ago 0.62 $ 25,351 75,724 93,323 8,164 235, 882 $ 30,540 30,577 51,857 69,225 8,017 218,330 $377,969 $ 305,800 points 41,173 42,989 3,397 187,664 $ 438,444 $109,173 $ 63,238 $ 40,366 81,603 162,500 85,168 $ 438,444 85,194 162,500 67,037 $ 377,969 $ 305,800 68,933 162,500 34,001 (1-a) Compute the current ratio for each of the three years. (1-b) Did the current ratio improve or worsen over the three year period? (2-a) Compute the acid-test ratio for each of the three years. (2-b) Did the acid-test ratio improve or worsen over the three year period? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. JBUT.CO UX Advisory Services At An A. 1. Which item(s) In The Income Statement S Chapter 13 Exercise Chapter 1 Economics Flashcards Quizlet Simon Company Exercise Saved Help Save & Exit Check m Total liabilities and equity $ 438,444 $377,969 $ 305,800 (1-a) Compute the current ratio for each of the three years. (1-b) Did the current ratio improve or worsen over the three year period? (2-a) Compute the acid-test ratio for each of the three years. (2-b) Did the acid-test ratio improve or worsen over the three year period? Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Compute the acid-test ratio for each of the three years. Acid-test ratio Acid-Test Ratio Choose Numerator: /Choose Denominator: Cash Short-term investments Current receivables Current liabilities Acid-test ratio 0 to 1 Current Yr: 0 to 1 0 to 1 1 Yr Ago: + 2 Yrs Ago: Required 1B Required 2B Saved U LAUTCIUU Total liabilities and equity $ 438,444 $377,969 $ 305, 800 (1-a) Compute the current ratio for each of the three years. (1-b) Did the current ratio improve or worsen over the three year period? (2-a) Compute the acid-test ratio for each of the three years. (2-b) Did the acid-test ratio improve or worsen over the three year period? -62 pints eBook Complete this question by entering your answers in the tabs below. Hint Print Required 1A Required 1B Required 2A Required 2B References Compute the current ratio for each of the three years. Current Ratio Choose Numerator: Choose Denominator: Current Ratio Current assets /Current liabilities Current ratio Current Yr: O to 1 1 Yr Ago: 0 to 1 2 Yrs Ago: 0 to 1 Required 1A Required 1B
