Just Dew It Corporation reports the following balance sheet information for 2017 and 2018. Assets 2017 JUST DEW IT CORPO
Posted: Mon May 02, 2022 9:17 am
please provide the answer for f.
my answer was wrong
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018. Assets 2017 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 15,250 Accounts payable $ 62,400 29,750 Notes payable 26,400 2018 $ 6.600 $ 65,750 Current assets Cash Accounts receivable inventory 26.600 31,500 75,800 92,250 Total $ 109,000 $ 137,250 Total $ 88,800 $ 97,250 Long-term debt $ 50,000 $ 40,000 Owners' equity Common stock and paid-in surplus Retained earnings $ 52,000 $ 52,000 209,200 310,750 Net plant and equipment $ 291,000 $362,750 Total $ 261,200 $362,750
Assets 2017 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 15,250 Accounts payable $ 62,400 29,750 Notes payable 26,400 2018 $ Current assets Cash Accounts receivable Inventory 6,600 $ 65,750 26,600 31,500 75,800 92,250 Total $ 109,000 $ 137,250 Total $ 88,800 $ 97,250 Long-term debt $ 50,000 $ 40,000 Owners' equity Common stock and paid-in surplus Retained earnings $ 52,000 $ 52,000 209,200 310,750 Net plant and equipment $ 291,000 $362,750 Total $ 261,200 $362,750 Total assets $400,000 $500,000 Total liabilities and owners' equity $400,000 $500.000
a. Calculate the current ratio for each year. (Do not round intermediate alculations and round your answers to 2 decimal places, e.g., 32.16.) b. Calculate the quick ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) c. Calculate the cash ratio for each year. (Do not round intermedia e calculations and round your answers to 2 decimal places, e.g., 32.16.) d. Calculate the NWC to total assets ratio for each year. (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) e. Calculate the debt-equity ratio and equity multiplier for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) f. Calculate the total debt ratio and long-term debt ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) X Answer is complete but not entirely correct. 2017 a. Current ratio 2018 1.411 times 1.23 times b. Quick ratio 0.37 times 0 46 times с Cash ratio 0.07 times 0.16 times d. NWC ratio 5.00 % 8.00 9% e. 0.53 times 0.38 times Debt-equity ratio Equity multiplier Total debt ratio 1.53 times 1.38 times f. 0.35 times 0.27 times Long-term debt ratio 0.13 X times 0.08 times
my answer was wrong
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018. Assets 2017 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 15,250 Accounts payable $ 62,400 29,750 Notes payable 26,400 2018 $ 6.600 $ 65,750 Current assets Cash Accounts receivable inventory 26.600 31,500 75,800 92,250 Total $ 109,000 $ 137,250 Total $ 88,800 $ 97,250 Long-term debt $ 50,000 $ 40,000 Owners' equity Common stock and paid-in surplus Retained earnings $ 52,000 $ 52,000 209,200 310,750 Net plant and equipment $ 291,000 $362,750 Total $ 261,200 $362,750
Assets 2017 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 Current liabilities $ 15,250 Accounts payable $ 62,400 29,750 Notes payable 26,400 2018 $ Current assets Cash Accounts receivable Inventory 6,600 $ 65,750 26,600 31,500 75,800 92,250 Total $ 109,000 $ 137,250 Total $ 88,800 $ 97,250 Long-term debt $ 50,000 $ 40,000 Owners' equity Common stock and paid-in surplus Retained earnings $ 52,000 $ 52,000 209,200 310,750 Net plant and equipment $ 291,000 $362,750 Total $ 261,200 $362,750 Total assets $400,000 $500,000 Total liabilities and owners' equity $400,000 $500.000
a. Calculate the current ratio for each year. (Do not round intermediate alculations and round your answers to 2 decimal places, e.g., 32.16.) b. Calculate the quick ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) c. Calculate the cash ratio for each year. (Do not round intermedia e calculations and round your answers to 2 decimal places, e.g., 32.16.) d. Calculate the NWC to total assets ratio for each year. (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) e. Calculate the debt-equity ratio and equity multiplier for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) f. Calculate the total debt ratio and long-term debt ratio for each year. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) X Answer is complete but not entirely correct. 2017 a. Current ratio 2018 1.411 times 1.23 times b. Quick ratio 0.37 times 0 46 times с Cash ratio 0.07 times 0.16 times d. NWC ratio 5.00 % 8.00 9% e. 0.53 times 0.38 times Debt-equity ratio Equity multiplier Total debt ratio 1.53 times 1.38 times f. 0.35 times 0.27 times Long-term debt ratio 0.13 X times 0.08 times