The following are the information on the assets and liabilities of HARUTO Corporation on December 31, 2022: Account Amount Cash P125,000.00 Accounts Receivable 80,000.00 Inventories 475,000.00 Trading/Marketable Securities 15,000.00 Land 6,500,000.00 Accounts Payable 450,000.00 Long-term Loans Payable 750,000.00 What is the acid test ratio of HARUTO Corporation, respectively, on December 31, 2022?

The following are the information on the assets and liabilities of HARUTO Corporation on December 31, 2022: Account Amount Cash P125,000.00 Accounts Receivable 80,000.00 Inventories 475,000.00 Trading/Marketable Securities 15,000.00 Land 6,500,000.00 Accounts Payable 450,000.00 Long-term Loans Payable 750,000.00 What is the acid test ratio of HARUTO Corporation, respectively, on December 31, 2022?

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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The following information is also available: 1. Current assets include cash P3,800, accounts receivables P18,500, note receivables (maturity date is on July 1,2023) P10,000 and land P12,000. 2. Long term investments include a P4,600 investment in fair value though other comprehensive income securitiesthat is expected to be sold in 2022 and a P9,000 investment in AllDay company bonds that are expected to be helduntil their December 31, 2029 maturity date. 3. Property and equipment include buildings costing P63,400, inventories costing P30,500 and equipment costingP29,600. 4. Intangible assets include patents that cost P8,200 and on which P2,300 amortization have accumulated, andtreasury shares that costs P1,800. 5. Other assets include prepaid insurance (which expires on November 30, 2022) P2,900, sinking fund for bondretirement P7,000 and trademarks that cost P5,200 and on which P1,500 amortization has accumulated. 6. Current liabilities include accounts payable P19,400, bonds payable…

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