Solved

Use the Following Financial Statement Information:
Financial Statement Information

Question 50

Essay

Use the following financial statement information:
Financial Statement Information  C Co 20X2  C Co 20X1  P Co 20X2  P Co 20X1  Current Assets $4,362$6,251$6,380$5,969 Total Assets 22,66020,10119,14516,881 Current Liabilities 7,9144,2578,6407,379 Total Liabilities 16,25913,16510,7429,607\begin{array} { | l | r | r | r | r | } \hline & \text { C Co 20X2 } & \text { C Co 20X1 } & \text { P Co 20X2 } & \text { P Co 20X1 } \\\hline \text { Current Assets } & \$ 4,362 & \$ 6,251 & \$ 6,380 & \$ 5,969 \\\hline \text { Total Assets } & 22,660 & 20,101 & 19,145 & 16,881 \\\hline \text { Current Liabilities } & 7,914 & 4,257 & 8,640 & 7,379 \\\hline \text { Total Liabilities } & 16,259 & 13,165 & 10,742 & 9,607 \\\hline\end{array} Calculate the following:  a. C Co’s 20X2 current ratio  b. C Co’s 20X1 current ratio  c. C Co’s 20X2 working capital  d. C Co’s 20X1 working capital  e. P Co’s 20X2 current ratio  f. P Co’s 20X1 current ratio  g. P Co’s 20X2 working capital  h. P Co’s 20X1 working capital \begin{array} { | l | } \hline \text { a. C Co's 20X2 current ratio } \\\hline \text { b. C Co's 20X1 current ratio } \\\hline \text { c. C Co's 20X2 working capital } \\\hline \text { d. C Co's 20X1 working capital } \\\hline \text { e. P Co's 20X2 current ratio } \\\hline \text { f. P Co's 20X1 current ratio } \\\hline \text { g. P Co's 20X2 working capital } \\\hline \text { h. P Co's 20X1 working capital } \\\hline\end{array}

Correct Answer:

verifed

Verified

a.0.55 ($4,362/$7,914)
b. 1.47 ($6,251/...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions