Moore Corporation reported the following items at December 31, 2018, and 2017: E (Click the icon...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Moore Corporation reported the following items at December 31, 2018, and 2017: E (Click the icon to view the comparative financial information.) Read the requirements. Requirement 1. Compute the company's (a) quick (acid-test) ratio and (b) days' sales outstanding for 2018. Evaluate each ratio value as strong or weak. All sales are on account with terms of net 30 days. (a) Enter the formula and calculate the quick (acid-test) ratio for 2018. (Abbreviation used: Cash* = Cash and cash equivalents. Round your final answer to two decimal places.) Quick (acid-test) ratio Moore's quick (acid-test) ratio is considered (b) Select the formula and calculate Moore's days' sales outstanding for 2018. (Round interim calculations to two decimal places, XX.XX. Round the days' sales outstanding up to the next whole day.) Days' sales outstanding Moore's days' sales outstanding V relative to credit terms of net 30 days. Requirement 2. Recommend two ways for Moore to speed up its cash flow from receivables. Moore could speed up cash flows from receivables by or This Question: 25 pts 3 of 4 Moore Corporation reported the following items at December 31, Data Table E (Click the icon to view the comparative financial information. Read the reguirements. Requirement 1. Compute the company's (a) quick (acid-test) rat days. Balance Sheets (Summarized) (a) Enter the formula and calculate the quick (acid-test) ratio for 2 Year End Year End 2018 2017 2018 2017 Current assets: Current liabilities: Moore's quick (acid-test) ratio is considered Cash $ 18,000 $ 14,000 Accounts payable 2$ 19,000 $ 20,500 (b) Select the formula and calculate Moore's days' sales outstand Marketable securities 20,000 9,000 Other current liabilities 108,000 110,000 Accounts receivable, net 53,000 67,000 Long-term liabilities 20,000 21,000 Inventory 190,000 186,000 Other current assets 3,000 3,000 Stockholders' equity 137,000 137,500 Moore's days' sales outstanding rela Long-term assets 10,000 Requirement 2. Recommend two ways for Moore to speed up it $ 284,000 $ 289,000 Total liabilities and equity 2$ 284,000 $ 289,000 Total assets Moore could speed up cash flows from receivables by Income Statement (partial): 2018 Sales revenue $ 900,000 Print Done Choose from any list or enter any number in the input fields a Moore Corporation reported the following items at December 31, 2018, and 2017: E (Click the icon to view the comparative financial information.) Read the requirements. Requirement 1. Compute the company's (a) quick (acid-test) ratio and (b) days' sales outstanding for 2018. Evaluate each ratio value as strong or weak. All sales are on account with terms of net 30 days. (a) Enter the formula and calculate the quick (acid-test) ratio for 2018. (Abbreviation used: Cash* = Cash and cash equivalents. Round your final answer to two decimal places.) Quick (acid-test) ratio Moore's quick (acid-test) ratio is considered (b) Select the formula and calculate Moore's days' sales outstanding for 2018. (Round interim calculations to two decimal places, XX.XX. Round the days' sales outstanding up to the next whole day.) Days' sales outstanding Moore's days' sales outstanding V relative to credit terms of net 30 days. Requirement 2. Recommend two ways for Moore to speed up its cash flow from receivables. Moore could speed up cash flows from receivables by or This Question: 25 pts 3 of 4 Moore Corporation reported the following items at December 31, Data Table E (Click the icon to view the comparative financial information. Read the reguirements. Requirement 1. Compute the company's (a) quick (acid-test) rat days. Balance Sheets (Summarized) (a) Enter the formula and calculate the quick (acid-test) ratio for 2 Year End Year End 2018 2017 2018 2017 Current assets: Current liabilities: Moore's quick (acid-test) ratio is considered Cash $ 18,000 $ 14,000 Accounts payable 2$ 19,000 $ 20,500 (b) Select the formula and calculate Moore's days' sales outstand Marketable securities 20,000 9,000 Other current liabilities 108,000 110,000 Accounts receivable, net 53,000 67,000 Long-term liabilities 20,000 21,000 Inventory 190,000 186,000 Other current assets 3,000 3,000 Stockholders' equity 137,000 137,500 Moore's days' sales outstanding rela Long-term assets 10,000 Requirement 2. Recommend two ways for Moore to speed up it $ 284,000 $ 289,000 Total liabilities and equity 2$ 284,000 $ 289,000 Total assets Moore could speed up cash flows from receivables by Income Statement (partial): 2018 Sales revenue $ 900,000 Print Done Choose from any list or enter any number in the input fields a
Expert Answer:
Answer rating: 100% (QA)
Solution a Quick Ratio Cash Accounts receivableCurrent liabilities Quick R... View the full answer
Related Book For
Financial Accounting
ISBN: 978-0134725987
12th edition
Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.
Posted Date:
Students also viewed these accounting questions
-
Moore Corporation reported the following items at December 31, 2018, and 2017: Requirements 1. Compute the companys (a) quick (acid-test) ratio and (b) days sales outstanding for 2018. Evaluate each...
-
Assume Black Corporation reported the following items at year-ends 2014 and 2013. Requirements 1. Compute Black's (a) acid-test ratio and (b) days' sales in average receivables for 2014. Evaluate...
-
Cherokee, Inc., reported the following items at December 31, 2010 and 2009: Requirement 1. Compute Cherokees (a) Acid-test ratio (b) Days sales in average receivables for 2010. Evaluate each ratio...
-
Evaluate each expression if possible. -V0.49
-
Frank B. McMahon wrote one of the first psychology textbooks to feature a light and easily readable style. He also included slang and examples that appealed to a youthful student market. Charles G....
-
1. Entered Answer Preview Result E E correct H D BCD At least one of the answers above is NOT correct. y 0 a b c d H correct D incorrect BCD incorrect t e r S X Check the boxes of the points where...
-
Presented below are summary financial data from the Pfizer, Inc., 2015 annual report. Using the ratio definitions from Exhibit 4.6, calculate the following ratios: return on equity, return on assets...
-
The City of Martinsville donated land to Essex Company. The fair value of the land was $ 100,000. The land had cost the city $ 45,000. Required: a. Describe the current accounting treatment for the...
-
2 Sasol Technologies, South Africa's second largest industrial undertaking, employs 28,000 people all over the world and is one of the market leaders in the field of coal gas liquefaction for the...
-
Company A is a global company based in the United States that operates in the financial industry. Company A serves its customers with financial products, such as checking accounts, bank cards, and...
-
Write an Event Handler for the "Calculate Age" button which can perform the following functions. (14) Calculate and show your age (years, months, days) in message box The program must be able to...
-
How might they explain what they observed? https://www.youtube.com/watch?v=BoeDI-YkzI0 Construct an explanation for the investigation of sound and vibration shown in the video. You can make your own...
-
2. Provide the exact value solution(s) for 2x + 13x + 3 = 0 (4)
-
In the United States there will always be an inherent conflict between the criminal defendant's Sixth Amendment right to a fair trial and the media's First Amendment freedom of press rights. The...
-
Able raises llamas on his ranch. Many of the llama are very valuable because of their excellent coats. His most prized llama wanders off the ranch. Able is concerned because llamas face many natural...
-
information related to Marlin Company for 2025. Retained earnings balance, January 1, 2025 Sales revenue Cost of goods sold Interest revenue Selling and administrative expenses Write-off of goodwill...
-
You work for a nuclear research laboratory that is contemplating leasing a diagnostic scanner (leasing is a very common practice with expensive, high-tech equipment). The scanner costs $4,800,000,...
-
Why is it important to understand the macro-environment when making decisions about an international retail venture?
-
Jasmine Corporation purchased inventory costing $125,000 and sold 75% of the goods for $163,750. All purchases and sales were on account. Jasmine later collected 25% of the accounts receivable....
-
Marshall Industrial Supply offers terms of 2/10, n/30 to its wholesale customers. Marshalls cost of goods sold is 30% of sales. The company had the following transactions during October: Requirements...
-
Mineral Mines paid $425,000 for the right to extract ore from a 250,000-ton mineral deposit. In addition to the purchase price, Mineral Mines paid a $110 filing fee to the country recorder, a $2,000...
-
Match the concept listed in items 1 through 8 with the most appropriate description listed in items a through h. Concept 1. Capital investment analysis 2. Type of environmental control 3. End-of-pipe...
-
Which one of the following statements regarding workforce diversity is inaccurate? a. Interpretation of accounting information is generally not dependent on the culture of the reporting entity. b....
-
For each of the following items, a through f, indicate whether the item represents (1) an advantage or (2) a disadvantage of downsizing. a. Decease in employee morale b. Incurrence of costs due to...
Study smarter with the SolutionInn App