The following balance sheet information is provided for Duke Company for Year 2: Assets Cash$5,400 Accounts receivable 15,500 Inventory 18,000 Prepaid expenses 1,600 Plant and equipment, net of depreciation 20,200 Land 19,950 Total assets$80,650 Liabilities and Stockholders' Equity Accounts payable$4,500 Salaries payable 11,500 Bonds payable (Due in ten years) 19,000 Common stock, no par 30,000 Retained earnings 15,650 Total liabilities and stockholders' equity$80,650 What is the company's current ratio?
A. 1.16
B. 3.79
C. 1.31
D. 2.53
Answer: D
You might also like to view...
On January 2, 2018, Cannon Company issued $10,000,000 of convertible debt. The bonds are zero-coupon, and each $1,000 bond is convertible into 10 shares of Cannon Company's common stock at the bond holder's option. The bonds mature in 2022 and were issued at par. Companies with similar credit profiles were issuing non-convertible debt at an effective rate of interest of 8%. The present value factor for $1 for 5 periods at 8% is .68058. For each of the following assumptions, prepare the journal entry to record the issuance of debt and entries for 2018 and 2019 to record interest expense. No bonds were converted during 2018 or 2019. Required:
Cannon Company uses U.S. GAAP to prepare its external financial reporting to shareholders and regulators.Cannon Company uses IFRS to prepare its external financial reporting to shareholders and regulators. What will be an ideal response?
Many times demographic and psychographic information about customers are not available through internal company records. In these situations:
A) the information can be purchased from external marketing research firms B) a company can offer customers an incentive to provide the necessary information C) the database can be appended with interaction and history information D) geocoding can be appended to each customer's record
A basic level of advertising combined with regularly scheduled bursts of advertising is known as "flighting" pattern of advertising
Indicate whether the statement is true or false
Suppose you are buying your first home for $145,000, and you have $15,000 for your down payment. You have arranged to finance the remainder with a 30-year, monthly payment, amortized mortgage at a 6.5% nominal interest rate, with the first payment due in one month. What will your monthly payments be?
A. $741.57 B. $780.60 C. $821.69 D. $862.77 E. $905.91