Home / Questions / The Copper Grill has the following current assets: cash $12 million receivables $50
The Copper Grill has the following current assets: cash, $12 million; receivables, $50 million; inventory, $44 million; and other current assets $4 million. The Copper Grill has the following liabilities: accounts payable, $38 million; current portion of long-term debt, $7 million; and long-term debt, $12 million. Based on these amounts, calculate the current ratio and the acid-test ratio for The Copper Grill.
136. Selected financial data regarding current assets and current liabilities for two competing companies, Simon and Garfunkel, are provided as follows:
|
($ in millions) |
Simon |
Garfunkel |
|
Current assets |
|
|
|
Cash and cash equivalents |
$648 |
$2,917 |
|
Short-term investments |
3,676 |
|
|
Net receivables |
991 |
1,372 |
|
Inventory |
515 |
202 |
|
Other current assets |
334 |
476 |
|
Total current assets |
$6,164 |
$4,967 |
|
Current liabilities |
|
|
|
Accounts payable |
$7,081 |
$4,295 |
|
Short-term debt |
1,239 |
1,021 |
|
Other current liabilities |
|
1,308 |
|
Total current liabilities |
$8,320 |
$6,624 |
1. Calculate the current ratio for Simon. Then calculate the current ratio for Garfunkel. Which of the two companies has the best current ratio?
2. Calculate the acid-test (quick) ratio for Simon. Then calculate the acid-test (quick) ratio for Garfunkel. Which of the two companies has the best acid-test ratio?
Jan 27 2020 View more View Less
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