This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The 2020 and 2021 balance sheets for Ottoman Manufacturing Company appear below along with selected ... (Read 35 times)

amymoore

  • Full Member
  • ***
  • Posts: 161
on: Feb 5, 2023
The 2020 and 2021 balance sheets for Ottoman Manufacturing Company appear below along with selected financial information. Ottoman declared no dividends during either year, and had 1,000 shares of stock outstanding throughout each year.

​​20212020
Current Assets​​
  Cash$   16,000$   15,000
  Accounts receivable, net20,00019,000
  Inventory  30,000   28,000
Total current assets66,00062,000
Plant & equipment, net   60,000   40,000
Total assets$126,000$102,000
​​​
Current liabilities$  20,000$  30,000
Noncurrent liabilities    60,000    40,000
Total liabilities80,00070,000
Stockholders' equity​​
  Common stock2,0002,000
  Additional paid-In capital4,0004,000
  Retained earnings   40,000   26,000
Total stockholders' equity   46,000   32,000
Total liabilities and stockholders' equity$126,000$102,000

Required:

a.Calculate the acid-test ratio for 2020.
b.Calculate the working capital for 2021.
c.Calculate earnings per share for 2021.
Managerial Accounting ¦ Davis ¦ 4th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by amymoore on Feb 5, 2023

jbsuccess1

  • Full Member
  • ***
  • Posts: 158
Reply #1 on: Feb 5, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


amymoore

  • Member
  • Posts: 161
Reply 2 on: Feb 5, 2023
Wow, this really help

at

  • Member
  • Posts: 359
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

Energy Balance Energy Balance
"To begin the pull-back exercise, grasp wrists, then lean back and balance." "To begin the pull-back exercise, grasp wrists, then lean back and balance."
Selected Barbiturates for Insomnia Selected Barbiturates for Insomnia
Material safety data sheets (MSDS), now called safety data sheets (SDS), should be readily available ... Material safety data sheets (MSDS), now called safety data sheets (SDS), should be readily available ...
This headache remedy was “guaranteed” by the drug company; 1906. This headache remedy was “guaranteed” by the drug company; 1906.
Population age 65 and over and age 85 and over, selected years 1900-2008 and projected 2010-2050. Population age 65 and over and age 85 and over, selected years 1900-2008 and projected 2010-2050.
Video: First Stage of Labor and Delivery Video

For a complete list of videos, visit our video library