Selected condensed data taken from a recent balance sheet of Perkins Inc. are as follows. What are
Question:
Selected condensed data taken from a recent balance sheet of Perkins Inc. are as follows.
What are the(a) Working capital,(b) Current ratio, and(c) Acid-testratio?
Transcribed Image Text:
PERKINS INC. Balance Sheet (partial) $ 8,041,000 4,947,000 12,545,000 Cash Short-term investments Accounts receivable Inventories 14,814,000 Other current assets 5,571,000 $45,918,000 Total current assets $40,644,000 Total current liabilities
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a b c Working capital Current assets Current liabilities Current asset...View the full answer
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Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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