Answered step by step
Verified Expert Solution
Question
1 Approved Answer
During 2018, cash and accounts receivable in the balance sheet presented amounts of USD 1,250,000 and USD 950,000 and for 2019 both presented an increase
During 2018, cash and accounts receivable in the balance sheet presented amounts of USD 1,250,000 and USD 950,000 and for 2019 both presented an increase of 10%. While the inventory remained at the same levels for both periods, with an amount of 3,050,000. Both accounts payable and accrued liabilities presented an increase of 5% for 2019. In 2018 the balance presented for each was USD 850,000 and USD 920,000 respectively. The documents payable, which correspond to the disbursement of a credit line of the company presented a balance for 2018 of 1,500,000 and USD 4,050,000 for 2019. The Solvency of General Industries in 2019 Select one: to. It decreased as a result of the decrease in current assets. b. Increased due to the increase in both cash and accounts receivable c. It was reduced due to the fact that total current assets grew in a greater proportion than total current liabilities.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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