Question
Michael Buble' Company Balance Sheet December 31, 2019 ASSETS Cash $ 86,000 Accounts receivable 76,000 Merchandise inventory 122,000 Prepaid Insurance 12,000 Long-term investments 98,000 Plant
Michael Buble' Company
Balance Sheet
December 31, 2019
ASSETS
Cash $ 86,000
Accounts receivable 76,000
Merchandise inventory 122,000
Prepaid Insurance 12,000
Long-term investments 98,000
Plant assets, net 436,000
Total assets $ 830,000
LIABILITIES AND EQUITY
Current Liabilities $124,000
Long term Liabilities 90,000
Common Stock 300,000
Retained Earnings 316,000
Total Liabilities and Equity $830,000
How would you get the computations below?
a.Current ratio
b.Acid test ratio
c.Debt ratio
d.Equity ratio
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Intermediate Accounting IFRS
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
4th Edition
1119607515, 978-1119607519
