Acid Test Prepaid Expenses

Glossary - Wiley: Home
Acid-test (quick) ratio Liquidity ratio that measures the abil-ity of a company to meet its maturing obligations with its available assets and to meet unexpected needs for cash. prepaid expenses by making adjusting entries to record the ... Get Doc

MULTIPLE CHOICE QUESTIONS - Portland Community College
D. prepaid expenses. 71. Short-term investments are listed on the balance sheet immediately below. a. cash. b. inventory. The acid-test (quick) ratio. a. is used to quickly determine a company's solvency and long-term debt paying ability. ... Read More

Glossary - The McGraw-Hill Companies
Acid test (p. 396) Current assets less inventory less prepaid expenses divided by current liabilities. Addends (p. 8) Numbers that are combined in the addition process. Example: 8 9 17, of which 8 and 9 are the addends. Adjustable rate mortgage (p. 366) Rate of ... Read Document

Weygandt Accounting Principles 10e Exercise SetB Ch18
Prepaid expenses 93 78 Other current assets 210 181 Total current assets $3,217 $3,361 Total current liabilities $1,601 $1,635 Perform current and acid-test ratio analysis. (SO 5) Acid-test. (c) Receivables turnover. (d) Inventory turnover. ... Fetch Content

Highered.mcgraw-hill.com
Prepaid insurance $2,300.00 Store equipment $41,900.00 Total expenses $98,750.00 Net income $2,250.00 Student Name: Class: Problem 05-03A REX COMPANY General Journal Acid-test ratio: Quick assets: Cash Current liabilities Acid-test ratio 0.24 0.25 ... Return Document

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C12-15, alkyl benzoate, glycerin,caffeine, steary alcohol,, stearic acid, magnesium silicate I will test it out whats so bad about trying something? At least you know if it didn’t work you tried it Good thing I was using a prepaid card that only had $60 ... Read Article

Ch4-solutions - College Of Business | College Of Business ...
The acid-test ratio (or quick ratio) is computed by dividing quick assets (cash and cash equivalents, marketable securities, 51,000 Inventories 81,000 Prepaid expenses 32,000 Total current assets 211,000 Investments: Marketable ... Get Doc

FAP Chapter 5 SM
Prepaid Selling Expenses 2,000. To record expired prepaid selling expenses. Dec. 31 Cost of Goods Sold 550. Merchandise Inventory 550. To record inventory shrinkage Acid-test ratio would be unaffected because inventory is not a quick asset. ... Get Document

PART A - Chabot College
$988,000, inventory is $87,000, and prepaid expenses are $200,000. What is the company’s acid-test ratio? a. 2.04:1 b. 3.16:1 c. 1.45:1 d. 0.69:1 50. To accurately evaluate a firm’s financial ratios, you should compare the ratios to: a ... Fetch Doc

College Accounting: A Practical Approach, 9/e By Slater
Ratio analysis looks at the relationship of figures on the financial statements. Acid test ratio = (Current assets – Merchandise inventory – Prepaid expenses) ... Read More

My Personal Choice For A Fat Burning Supplement
Unlock iphone 4 ios 5 verizon Prepaid legal insurance policy may be a better which will oral will need to have acid solution generating bacterium all Late repayments for expenses will offer finance companies undesirable perceptions of yourself but it really could also be ... Read Article

CHAPTER 18
Prepaid expenses while the acid-test ratio excludes these. The acid-test ratio provides additional information about short-term liquidity and is an important complement to the current ratio. 10. Donte Company does not necessarily have a problem. ... Read Content

ACID-TEST (QUICK) RATIO - University Of Illinois At Chicago - UIC
Activity 48 ACID-TEST (QUICK) RATIO prepaid expenses from the numerator. Inventory and prepaid expenses are current assets but are not considered to be highly liquid. The (acid-test / current) ratio will always report a higher value. ... Get Content Here

Filling Station - Wikipedia, The Free Encyclopedia
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Additional Aspects Of Financial Reporting And Financial Analysis
Ratio Analysis Liquidity Ratios Cash Short-term investments Accounts receivable Inventory Prepaid expenses/supplies * Appendix: Ratio Analysis The acid-test ratio is a more severe test of a company’s short-term debt-paying abilities. ... Retrieve Here

Solutions Guide: This Is Meant As A Solutions Guide
2011 2010 Sales $750,000 $600,000 Cost of goods sold 465,000 390,000 Selling expenses 120,000 72,000 Administrative 1,788 684 Merchandise inventory 956 997 Prepaid expenses 78 61 Other current Current ratio :1 Acid-test ratio :1 Receivables turnover times ... Retrieve Doc

Whole Numbers; How To Dissect And Solve Word Problems
Prepaid expenses 15,000 e. Long-term liabilities: f. Total current assets $61,000 f. Mortgage note payable 58,000 g. Plant and equipment: g. Total liabilities $150,000 h 2 to 1 Acid test (quick ratio) ... Document Viewer

Reporting And Analyzing Merchandising Activities
Accounts Income Statement Formats Single-Step Income Statement Multiple-Step Income Statement Merchandising Cash Flows Acid-Test Ratio Method Perpetual Inventory Method Perpetual Inventory Method Additional Merchandising Issues Adjusting Entries Prepaid Expenses Depreciation ... Get Doc

CHAPTER I - Texas A&M University Corpus Christi - Faculty ...
The acid-test ratio and the current ratio are both measures of the short-term debt-paying ability of the company. such as inventories and prepaid expenses. (c) Debt to total assets = Total Liabilities = $220,000 = 51.16% Total Assets $430,000 ... Return Document

Chapter 6
* The acid-test ratio is similar to the current ratio but is based on a more conservative measure of current assets available to pay current liabilities. Because it eliminates current assets such as inventories and prepaid expenses that are less readily convertible into cash, ... Fetch Full Source

Financial Statement Analysis Ratio Analysis
Prepaid Expenses O.S.Incomes. IDEAL RATIO = 2:1 II. Quick ratio or Acid Test ratio = Quick Asset Quick liability = Current Assets – Inventories- Prepaid expenses . Current Liabilities – Bank O.D. – Income Received in Advance  Ratio of ... Return Doc

EXERCISES: SET B - Wiley: Home
Perform current and acid-test ratio analysis. (SO 5) Compute selected ratios. (SO 5) Prepaid expenses 55 53 Other current assets 760 595 Total current assets $2,874 $2,572 Total current liabilities $1,623 $1,341. Exercises: Set B 3 Accounts payable $50,000 $60,000 ... View Full Source

ILLUSTRATION 13-1 CLASSIFICATION OF SHORT-TERM OBLIGATIONS ...
Acid-test ratio = Example (in millions of dollars): Cash $5.5 Current liabilities $13.3 Marketable securities 3.0 Receivables (net) 10.4 Inventories 14.8 Prepaid expenses 6.2 Current ratio = = = 3.0 times Acid-test ratio = = = 1.42 times Current assets Current liabilities marketable ... Fetch This Document