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posted by  Kahish on 11/4/2009 6:08:41 PM  |  status: Closed  |  Earned Karma: 10

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Course Textbook Chapter Problem Needs by
Financial Management N/A N/A N/A 11/4/2009 at 6:00:00 AM
Question Details:

Following items are taken out of Balance Sheet of A&B Co Ltd.

a) Cash Rs. 20,000

b) Account receivable Rs. 100,000

c) Account payable Rs. 350,000

d) Notes payable Rs. 250,000

e) Inventory Rs. 300,000

f) Long term debt Rs. 500,000

g) Furniture Rs.1,500,000

h) Common Stock Rs 5,00,000

i) Retained Earnings Rs.3,20,000

j) Earning before interest and tax Rs 600,000

k) Company paid interest Rs.140,000

From the given data find out following ratios:

1. Total debt ratio

2. Cash Ratio

3. Acid test Ratio

4. Current ratio

5. Interest Coverage Ratio

AAnswers:

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posted by devis on 11/4/2009 11:36:19 PM  |  status: Live
Asker's Rating: Lifesaver   
Response Details:
(1) Total Debt Ratio   = Total Debt / Total Assets
Total Debt = (Accounts Payable + Notes Payable + Long-term debt)
Total Debt = (350,000 + 250,000 + 500,000)
Total Debt = Rs.1,100,000
Total Assets = (Cash + Accounts receivables + Invnentory + Furniture)
Total Assets = (20,000 + 100,000 + 300,000 + 1,500,000)
Total Assets = Rs.1,920,000
Total Debt Ratio = Rs.1,100,000 / Rs.1,920,000
Total Debt Ratio = 0.57
(2) Cash Ratio = [(Cash Equivalents + Cash) / (Accruals + Accounts Payable + Notes Payable)]
Cash Ratio      = [(20,000) / (350,000 + 250,000)]
Cash Ratio      = [(20,000) / 600,000]
Cash Ratio      = 0.033
(3) Acid Test Ratio = [(Cash + Accounts receivables + short-term investments) / Current Liaibilities]
Acid Test Ratio = [(20,000 + 100,000 ) / (350,000 + 250,000)]
Acid Test Ratio = [120,000 / 600,000]
Acid Test Ratio = 0.2
(4) Current Ratio = Current Assets / Current Liabilities
Current Ratio = [(20,000 + 100,000 + 300,000) / (350,000 + 250,000)]
Current Ratio = [420,000 / 600,000]
Current Ratio = 0.7
(5) Interest Coverage Ratio = EBIT / Interest
Interest Coverage Ratio = Rs.600,000 / Rs.140,000
Interest Coverage Ratio = 4.26
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