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Posted on May 19, 2024

Assets Liabilities & shareholders' equity Cash$ 10,000Accounts payable$ 20,750Accounts receivable2,030Wages payable1, 220Supplies180Notes payable (due in 2 years)8,000Prepaid insurance2,000 Equipment25,000Common stock100,000Building110,000Retained earnings19,240 Calculate the current ratio

Assets

Liabilities & shareholders' equity

Cash$ 10,000Accounts payable$ 20,750Accounts receivable2,030Wages payable1, 220Supplies180Notes payable (due in 2 years)8,000Prepaid insurance2,000

Equipment25,000Common stock100,000Building110,000Retained earnings19,240

Calculate the current ratio

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