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Questions 37 through 39 are based on the following information.The condensed balance sheet as of December 31, 1982 of MASBATE INC. is given below. Figuresshown by a question mark (?) may be computed from the additional information given:ASSETS LIAB. & STOCKHOLDERS’ EQUITYCash P 60,000 Accounts...

Indicate the effects of each of the following transactions on the following ratios. There are three possible answers: increase (+), decrease (-), and no effect (0). Before each transaction occurs, the current ratio is greater than 1 to 1, and the acid-test ratio is less than 1 to 1. Current...

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PROBLEMS 1. The net sales of NCR CORP. in 1990 is total, P580,600. The cost of goods manufactured is P480,000. The beginning inventories of goods in process and finished goods are P82,000 and P65,000, respectively. The ending inventories are, goods in process, P75,000, finished goods, P55,000...

Answer the questions for each of the following independent situations (a)The current ratio is 2.5 to 1; the acid-test ratio is 0.9 to 1; cash and receivables are P270,000. The only current assets are cash, receivables, and inventory. What are current liabilities? What is inventory? (b)A...