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 | $ | 155,000 |
| Total assets | $ | 1,430,000 |
| Current ratio | 3.3 | |
| Acid-test ratio | 2.30 | |
| Debt to equity ratio | 1.6 | |
Required: Compute the current assets for Bronco:
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Auditing And Assurance Services An Integrated Approach
Authors: Alvin Arens
13th Edition
0136084737, 9780136084730
