Samsung (Samsung.com) is a leading manufacturer of consumer electronic products. The following selected information is available from
Question:
Samsung (Samsung.com) is a leading manufacturer of consumer electronic products. The following selected information is available from Samsung’s financial statements.
Required
1. Compute Samsung’s current ratio for both the current year and the prior year.
2. Comment on any change from the prior year to the current year for the current ratio.
(millions of Korean won) Current assets .. Current liabilities. Current Year Prior Year \110,760271 ₩87,269,017 51,315,409 46,933,052
Step by Step Answer:
1 Current ratio in millions KRW Current year 110760271 513...View the full answer
Fundamental Accounting Principles
ISBN: 978-0077862275
22nd edition
Authors: John Wild, Ken Shaw, Barbara Chiappetta
Related Video
The current ratio is a financial ratio that measures a company\'s ability to pay its short-term obligations with its short-term assets. It is calculated by dividing a company\'s current assets by its current liabilities. The formula for calculating the current ratio is: Current Ratio = Current Assets / Current Liabilities Current assets are assets that can be converted to cash within one year, while current liabilities are debts that are due within one year. A current ratio of 1:1 or greater is generally considered good, as it indicates that a company has enough current assets to cover its current liabilities. A current ratio of less than 1:1 may suggest that a company may have difficulty meeting its short-term obligations. It\'s important to note that the current ratio is just one of many financial ratios that can be used to assess a company\'s financial health. It should be used in conjunction with other financial ratios and qualitative factors to make informed decisions about investing or lending to a company.
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