Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Selected current year - end financial statements of Cabot Corporation follow. ( All sales were on credit; selected balance sheet amounts at December 3 1

Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts
at December 31 of the prior year were inventory, $52,900; total assets, $209,400; common stock, $88,000; and retained earnings,
$35,796.
Required:
Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days' sales in inventory,
(6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (11) return
on equity.
Note: Do not round intermediate calculations.
Complete this question by entering your answers in the tabs below.
Compute the days' sales uncollected.
Req 4> Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts
at December 31 of the prior year were inventory, $52,900; total assets, $209,400; common stock, $88,000; and retained earnings,
$35,796.
Required:
Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days' sales in inventory,
(6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (11) return
on equity.
Note: Do not round intermediate calculations.
Complete this question by entering your answers in the tabs below.
Compute the inventory turnover
Req5>
Req5>
*Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted. Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts
at December 31 of the prior year were inventory, $52,900; total assets, $209,400; common stock, $88,000; and retained earnings,
$35,796.
Required:
Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days' sales in inventory,
(6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (11) return
on equity.
Note: Do not round intermediate calculations.
Complete this question by entering your answers in the tabs below.
Compute the days' sales in inventory.
Req 4
*Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted. Back
This window shows your responses and what was marked correct and incorrect from your previous attempt.
2
Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31 of the prior year were inventory, $52,900; total assets, $209,400; common stock, $88,000; and retained earnings, $35,796.
\table[[\table[[CABOT CORPORATION],[Balance Sheet],[December 31 of current year]]],[Assets,,Liabilities and Equity,],[,$22,000,Accounts payable,$19,500],[Short-term investments,8,600,Accrued wages payab,3,400],[Accounts receivable, net,33,800,Income taxes payable,2,900],[Merchandise inventory,32,150,Long-term note payable, secured by mortgage on plant assets,70,400],[Prepaid expenses,2,900,Common stock,88,000],[Plant assets, net,153,300,RetaiSelected current year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts
at December 31 of the prior year were inventory, $52,900; total assets, $209,400; common stock, $88,000; and retained earnings,
$35,796.
CABOT CORPORATION
Balance Sheet
December 31 of current year
Liabilities and Equity
Accounts payable
Accrued wages payable
Income taxes payable
Common stock
Retained earnings
Total liabilities and equity
Required:
Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days' sales in inventory,
(6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (11) return
on equity.
Note: Do not round intermediate calculations.
Complete this question by entering your answers in the tabs below.
Req 1 and 2
Req 3
Req 4
Req 5
Req 6
Req 7
Req 8
Req 9
Req 10
Req 11
Compute the current ratio and acid-test ratio.
Would not let me upload but all requirement values please.
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Global Taxation How Modern Taxes Conquered The World

Authors: Philipp Genschel, Laura Seelkopf

1st Edition

0192897578, 978-0192897572

Students also viewed these Accounting questions