Question
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 $ 195,000
Total assets $ 1,670,000
Current ratio 3.7
Acid-test ratio 2.70
Debt to equity ratio 1.5
Compute the long-term liabilities for Bronco
Long-Term Liabilities:
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Financial Accounting Tools For Business Decision Making
Authors: Paul D. Kimmel
3rd Canadian Edition
0470836792, 978-0470836798
