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How would I determine a current ratio in a balance sheet with these options with me. I know treasury stock doesn't count as a current
How would I determine a current ratio in a balance sheet with these options with me. I know treasury stock doesn't count as a current asset and liabilities are mostly payable things, so would the current ratio here be 2?
As of 12/31/2017 Accounts Receivable, net $180 300 Buildings Cash 120 Goodwill 40 Inventory 60 Treasury Stock 100 TOTAL $800 11. Phony Company's current ratio is a. 2.00 b. 1.80 c. 1.50 d. 1.25 $70 Accounts Payable Accruals Payable 130 50 Accumulated Depreciation Contributed Capital 380 Note Payable (due 2020) 150 Retained Earnings as of 12/31/2017 20 TOTAL $800Step by Step Solution
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