The accounts below, in alphabetical order, are adapted from a recent statement of financial position for Big
Question:
The accounts below, in alphabetical order, are adapted from a recent statement of financial position for Big Burgers Inc. (amounts are in thousands of dollars):
Required:
1. Construct, in good form, a classified statement of financial position (with two years reported) for Big Burgers Inc.
2. Compute the company€™s current ratio at the end of the current year. How do you interpret this ratio for Big Burgers?
Transcribed Image Text:
Current Prior Year Prior Year Current Year Year Accounts and notes $795.9 745.5 Long-term debt Accrued liabilities2,344 2,144.0 Notes payable (short term544.0 receivable $ 8,937.4 8,357.3 Cash and cash equivalents Contributed capital Current maturities of 4,260.4 379.8 Other long-term liabilities 2,814.2 2,202.6 Other non-current assets 1,869.0 1,758.2 1,245.0 ,338.4 585.0 20,108.0 20,903.1 12,331.9 11,998.9 714.3 Prepaid expenses and long-term debt 658.7 862.2 other current assets 646.4 Property and Intangible assets, net 1,950.7 1,828.3 Inventories Long-term equipment, net 147.0 147.5 Retained earnings investments 1,035.4 9 Trade payables 689.4
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Related Book For
Financial Accounting
ISBN: 978-1259103285
5th Canadian edition
Authors: Robert Libby, Patricia Libby, Daniel Short, George Kanaan, M
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