Question
Bronco Electronics' current assets consist of cash, short-term investments, accounts receivable, and inventory. The following data were abstracted from a recent financial statement: Inventory $
Bronco Electronics' current assets consist of cash, short-term investments, accounts receivable, and inventory. The following data were abstracted from a recent financial statement:
| Inventory | $ | 210,000 |
| Total assets | $ | 1,760,000 |
| Current ratio | 3.6 | |
| Acid-test ratio | 2.60 | |
| Debt to equity ratio | 1.5 | |
Required: Compute the long-term liabilities for Bronco:
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Intermediate Accounting Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
13th Canadian Edition
1119740444, 9781119740445
