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Posted: June 24th, 2022
Current Ratio Assignment
The Old Professor Publishing Company
Statement of Operations
Which Citation Styles Can You Handle?
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Year Ending December 31, 2017
(in thousands)
| Revenue: | |
| Original Publications | $28,500 |
| Duplicate Prints | 6,000 |
| Citations/Royalties | 3,500 |
| Total Revenue | $36,000 |
| Expenses: | |
| Salaries | $11,000 |
| Printing Materials | 4,000 |
| Uncollectables | 175 |
| Machine Maintenance | 2,500 |
| Depreciation | 250 |
| Total Expenses | $15,750 |
| Net Income | $20,250 |
| Net Assets (beginning yr.) | $700 |
| Net Assets/Equity (end yr.) | $20,950 |
The Old Professor Publishing Company
Balance Sheet
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Totally! They’re a legit resource for sample papers to guide your work. Use them to learn structure, boost skills, and ace your grades—ethical and within the rules.
Year Ending December 31, 2017
(in thousands)
| Assets: | |
| Cash and Cash Equivalents | $10,000 |
| Printed Copies (Extras) | 9,000 |
| Supplies | 400 |
| Total Current Assets | $19,400 |
| Net Property and Equipment | $7,750 |
| Total Assets | $27,150 |
| Liabilities and Net Assets: | |
| Accounts Payable | $2,000 |
| Accrued Expenses | 800 |
| Current Debt Portion | 150 |
| Total Current Liabilities | $2,950 |
| Long-term Debt | $3,000 |
| Total Liabilities | $5,950 |
| Net Assets/Equity (end yr.) | $21,200 |
| Total Liabilities and Net Assets | $27,150 |
- Referencing ‘The Old Professor Publishing Company’ financial statements, calculate the current ratio. Get Finance homework help today
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