A firms balance sheet contains $320 of cash, $2,000 of fixed assets, $1,380 of accounts receivable, $780

Question:

A firm’s balance sheet contains $320 of cash, $2,000 of fixed assets, $1,380 of accounts receivable, $780 of accounts payable, $500 of inventory, and $1,000 on a revolving line of credit. Assuming that list contains all of the company’s assets and liabilities. How much are current assets? What is the company’s quick ratio? What is the company’s book value?

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...