The Current Year-End Balance Sheet Data for a Company Are

question 64

Essay

The current year-end balance sheet data for a company are shown below:
$\begin{array}{|l|r|}\hline \text { Assets: } & \\\hline \text { Cash } & \$ 18,000 \\\hline \text { Marketable securities } & 45,000 \\\hline \text { Accounts receivable (net) } & 157,500 \\\hline \text { Merchandise inventory } & 139,500 \\\hline \text { Long-term investments } & 135,000 \\\hline \text { Plant assets (net) } & 517,500 \\\hline \text { Total assets } & \$ 1,012,500 \\\hline\\\hline \text { Liabilities and equity: } & \\\hline \text { Accounts payable } & \$ 168,700 \\\hline \text { Accrued liabilities } & 90,000 \\\hline \text { Notes payable (secured by plant assets) } & 234,800 \\\hline \text { Common stock (\$12 par) } & 180,000 \\\hline \text { Contributed capital in excess of par } & 135,000 \\\hline \text { Retained earnings } & 204,000 \\\hline \text { Total liabilities and equity } & \$ 1,012,500\\\hline\end{array}$ Calculate this company's:
(1) Working capital
(2) Acid-test ratio

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Definitions:

C=C

A double bond between two carbon atoms, indicative of unsaturation within organic molecules and affecting molecular geometry and reactivity.

C≡C

Denotes a triple covalent bond between two carbon atoms, a characteristic feature of alkynes.

Classified Department

A section within an organization or publication that deals with categorized listings or information, often related to job postings, sales, or advertisements.

Telephone Calls

Voice communications between two or more parties over a distance, conducted via telephony technology.