Question
Excelsior Corporation has the following headings on its December 31, 2019 Balance Sheet: Total Current Assets $200,000 Total Assets $500,000 Total Current Liabilities $92,000 Total
Excelsior Corporation has the following headings on its December 31, 2019 Balance Sheet: Total Current Assets $200,000 Total Assets $500,000 Total Current Liabilities $92,000 Total Non Current Liabilities $300,000
On January 2020 Excelsior pays off $37,200 in long term debt by transferring title to one of its idle factories to the creditor
a: Assume no other transaction in 2020. How much will working capital increase/decrease by when comparing December 2019 with January 2020? $
b: The current ratio of 2019 is:
c: Excelsior's financial leverage in 2019 is (calculate it as a debt to equity ratio):
d: Excelsior's financial leverage in 2019 is (calculate the Equity Ratio and not the Equity Ratio percentage):
e: If sales for 2019 amount to $570,000, the working capital turnover for 2019 is:
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Vendor Audit Auditing Construction Contract Trust But Verify A Concise Guidebook On How To Execute Vendor Audit That Add Values To The Companys Bottom Line
Authors: Hin H Leong
1st Edition
1525554093, 978-1525554094
