Ace Industries has current assets equal to $10 million. The company's current ratio is 2.0, and its quick ratio is 1.5. What is the firm's level of current liabilities? What is the firm's level of inventories? Do not round intermediate calculations. Round your answers to the nearest dollar. Current liabilities: $ Inventories: $
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Ace Industries has current assets equal to $10 million. The company's current ratio is 2.0, and its quick ratio is 1.5. What is the firm's level of current liabilities? What is the firm's level of inventories? Do not round intermediate calculations. Round your answers to the nearest dollar.
Current liabilities: $
Inventories: $
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- Ace Industries has current assets equal to 3 million. The companys current ratio is 1.5, and its quick ratio is 1.0. What is the firms level of current liabilities? What is the firms level of inventories?Ace Industries has current assets equal to $3 million. The company's current ratio is 1.5, and its quick ratio is 1.1. What is the firm's level of current liabilities? What is the firm's level of inventories? Do not round intermediate calculations. Round your answers to the nearest dollar. Current liabilities: $ Inventories: $Ace Industries has current assets equal to $4 million. The company's current ratio is 2.0, and its quick ratio is 1.7. What is the firm's level of current liabilities? What is the firm's level of inventories? Do not round intermediate calculations. Round your answers to the nearest dollar. Current Liabilities $ Inventory $
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- Assume that the current ratio for Arch Company is 3.5, its acid-test ratio is 1.5, and its working capital is $330,000. Answer each of the following questions independently, always referring to the original information. Required: a. How much does the firm have in current liabilities? Note: Do not round intermediate calculations. b. If the only current assets shown on the balance sheet for Arch Company are Cash, Accounts Receivable, and Merchandise Inventory, how much does the firm have in Merchandise Inventory? Note: Do not round intermediate calculations. c. If the firm collects an account receivable of $101,000, what will its new current ratio and working capital be? Note: Round "Current ratio" to 1 decimal place. d. If the firm pays an account payable of $53,000, what will its new current ratio and working capital be? Note: Do not round intermediate calculations. Round "Current ratio" to 1 decimal place. e. If the firm sells inventory that was purchased for $50,000 at a cash price…V. Direction: Solve the following problems using financial ratios. Write the answer on the blank. 1. Current assets is P20,000, current liabilities is P30,000. What is the current ratio? 2. Inventory is P15,000; Accounts Payable is P45,000. Cash and accounts receivable total P8,000. What is the current ratio? What is the quick ratio? 3. If current ratio is 1.5, what is the total accounts receivable if cash is P220,000, inventory is P75,000, and accounts payable is P330,000? 4. Cash is 30% of total current assets. If current ratio is 2.5, what is the new current ratio if total non- cash current assets grow by 50%? 5. The total asset is P1,500,000. Sales is P4,500,000. What is the asset turnover? 6. Accounts receivable turnover is 8. What is the average collection period assuming annual data What is the average collection period if quarterly data are used? are used? 7. Sales for the year amount to P3,000,000, Accounts receivable is P360,000. What is the average collection period assuming…A firm's current ratio is 1.7, and its quick ratio is 1.0. If its current liabilities are $11,500, what are its inventories?