Question
A company has the following balance sheet items at the end of the year: Assets: Cash $100,000 Accounts Receivable $50,000 Inventory $120,000 Prepaid Rent $10,000
A company has the following balance sheet items at the end of the year:
Assets:
- Cash $100,000
- Accounts Receivable $50,000
- Inventory $120,000
- Prepaid Rent $10,000
- Equipment $200,000
Liabilities:
- Accounts Payable $40,000
- Notes Payable $50,000
- Salaries Payable $30,000
- Rent Payable $5,000
Owners Equity:
- Capital Stock $150,000
- Retained Earnings $200,000
Calculate the following:
- Current Ratio
- Quick Ratio
- Debt to Equity Ratio
- Debt to Asset Ratio
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Financial Accounting in an Economic Context
Authors: Jamie Pratt
10th edition
978-1-119-3061, 1119306167, 978-1119444367
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