Question
Keswick Industries Limited has the following current assets and current liabilities on the company's balance sheet: Cash $17,000; Accounts Receivable $8,200; Inventory $54,000; Prepaid Rent
Keswick Industries Limited has the following current assets and current liabilities on the company's balance sheet: Cash $17,000; Accounts Receivable $8,200; Inventory $54,000; Prepaid Rent $3,000; Accounts Payable $23,000; Notes Payable due within one year $20,000; and Unearned Revenue $5,500. What would be the company's current ratio?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
To calculate the current ratio you need to divide the total current assets ...
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Accounting
Authors: Carl s. warren, James m. reeve, Philip e. fess
21st Edition
978-0324400205, 324225016, 324188005, 324400209, 9780324225013, 978-0324188004
