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Calculate the current ratio using the following information: (Round your answer to two decimal places.) Cash $7,000 Accounts Receivable $1,100 Prepaid Rent $1,100 Land $40,000
Calculate the current ratio using the following information: (Round your answer to two decimal places.)
Cash | $7,000 |
Accounts Receivable | $1,100 |
Prepaid Rent | $1,100 |
Land | $40,000 |
Equipment | $4,000 |
Accumulated Depreciation | $800 |
Accounts Payable | $4,000 |
Salaries Payable | $900 |
Notes Payablelong dashlong term | $8,000 |
A.
3.12
B.
1.65
C.
1.88
D.
2.3
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