Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please show work. thank you! B&T Supply, Inc. has Cash of $3,000, Accounts Receivable $9,000, Office Supplies of $500, Land of $50,000 and Buildings of

please show work. thank you!
image text in transcribed
B\&T Supply, Inc. has Cash of $3,000, Accounts Receivable $9,000, Office Supplies of $500, Land of $50,000 and Buildings of $100,000. They owe $3,000 of Accounts Payable, $1500 of Salaries Payable, and $75,000 of Long-term Notes Payable. What is the company's current ratio (round to two decimals including zeros if needed)? Your Answer: Answer: Question 2 (1 point) ABC Company had Net Sales Revenue of $90,000, Cost of Goods Sold totaled $46,000, and Operating Expenses of $22,000. What was ABC's Gross Profit percentage for this period? Type your answer in percentage form (leaving off the % sign) and round to two decimal places, including zeros if needed. Your

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions