Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
Dema Co. had the following balances on Dec 31, 2020 which appeared in its financial statements: cash $ 17000, accounts receivable $ 13000, prepaid rent
Dema Co. had the following balances on Dec 31, 2020 which appeared in its financial statements: cash $ 17000, accounts receivable $ 13000, prepaid rent $ 10000, inventory $ 15000, building (net) $ 50000, equipment (net) $40000, accounts payable $20000, salaries payable $ 10000, bonds $60000, share capital $55000, net sales $200000, cost of goods sold $ 80000, administrative and selling expenses $ 60000, paid interest $10000, tax $ 10000 Compute the current ratio: Select one: O a. 2 O b. 1.50 O c. There is no correct answer O d. 1.83
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started