Taylor Company Has the Following Financial Data on January 1

question 74

Essay

Taylor Company has the following financial data on January 1, 2017 and January 1, 2016.
$$\begin{array} { l r r r } & 1 / 1 / 17 & 1 / 1 / 16 \\\hline \text { Cash } & \$ 15,000 & \$ 27,000 \\\text { Accounts receivable } & 23,000 & 11,000 \\\text { Marketable securities } & 3,000 & 10,000 \\\text { Inventary } & 16,000 & 35,000 \\\text { Net plant and equipment } & 40,000 & 32,000 \\& & \\\text { Current liabilities } & \$ 18,000 & \$ 27,000 \\\text { Lang-term debt } & 49,000 & 30,000 \\\text { Sharehalders' equity } & 30,000 & 58,000\end{array}$$
A. In terms of the quick and current ratio, has the short-term solvency position of Taylor improved, remained the same, or declined?
B. If you were a potential short-term creditor to Taylor, would you be more willing to extend credit on either January 1, 2016 or 2017? Explain.

Identify the effects of reinforcement schedules on behavior and learning.

Understand the psychological theories that explain learning and behavior modification.

Understand the concepts of applied, actual, overapplied, and underapplied manufacturing overhead.

Calculate total manufacturing costs including direct materials, labor, and applied overhead.

---

Definitions:

Quantity Demanded

The quantity of a good that consumers are willing and able to purchase at a given price over a specified period of time.

CD Players

Devices used for playing audio CDs that were a popular technology for music playback before being gradually replaced by digital music players.

Elasticity

The measure of how much the quantity demanded or supplied of a good responds to a change in one of its determinants, such as price or income.

Lowest Possible

This term needs more context to provide a specific definition; generally, it refers to the minimum achievable level or value in a given situation.