Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bronco Electronics' current assets consist of cash, marketable securities, accounts receivable, and inventories. The following data were abstracted from a recent financial statement: Inventories $

Bronco Electronics' current assets consist of cash, marketable securities, accounts receivable, and inventories. The following data were abstracted from a recent financial statement:

Inventories $ 190,000
Total assets $ 1,640,000
Current ratio 3.6
Acid-test ratio 2.65
Debt to equity ratio 1.5
Required:
Compute the long-term liabilities for Bronco:
Long-term liabilities
=

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

The Training And Development Audit

Authors: Rosemary Harrison

2nd Edition

0955970725, 978-0955970726

More Books

Students also viewed these Accounting questions