Following are the current asset and current liability sections of the balance sheets for Calketch, Inc., at

Question:

Following are the current asset and current liability sections of the balance sheets for Calketch, Inc., at August 31, 2017 and 2016 (in millions):

Required:
a. Calculate the working capital and current ratio at each balance sheet date. Round your current ratio answers to one decimal place.
b. Describe the change in the firm's liquidity from 2016 to 2017.

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...

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a b Although both working capital and the current ratio at August 31 20...View the full answer

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Accounting What the Numbers Mean

ISBN: 978-1259535314

11th edition

Authors: David Marshall, Wayne McManus, Daniel Viele

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Question Posted: Aug 03, 2016 08:00 AM

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Following are the current asset and current liability sections of the balance sheets for Calketch, Inc., at

Question:

August 31, 2017 August 31, 2016 Current Assets Cash Marketable securties. S 18 21 46 30 24 nventones $143 Total current assets Current Liabilities Note payable Accounts payable.. Other accrued labilities. .. S 24 45 . . 30 26 s 65 Total current liabilities

Step by Step Answer:

a b Although both working capital and the current ratio at August 31 20...View the full answer

Accounting What the Numbers Mean

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