Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

At the end of 2013, a company had the following assets: Cash of $125,000, Property, Plant and Equipment of $430,000, Inventory of $78,000, Goodwill of

image text in transcribed
At the end of 2013, a company had the following assets: Cash of $125,000, Property, Plant and Equipment of $430,000, Inventory of $78,000, Goodwill of $55,000, Long Term Investments of $200,000, and Accounts Receivable of $87,000. It also had the following liabilities: Income Tax Payable of $21,000, Long-Term Borrowings of $200,000. Current Portion of Long Term Debt of $50,000, Trade Payables of $110,000, Current Deferred Revenue of $45,000. What is the company's current ratio at the end of 2013? 0.95 O 1.28 0 2.29 2.41 2.80

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management And Cost Accounting

Authors: Mike Tayles, Colin Drury

11th Edition

147377361X, 978-1473773615

More Books

Students also viewed these Accounting questions

Question

Understand some techniques for evaluating the HRM function

Answered: 1 week ago