Question
Question: A company has the following information from its balance sheet: Assets Amount (USD) Liabilities and Equity Amount (USD) Cash $140,000 Accounts Payable $35,000 Accounts
Question:
A company has the following information from its balance sheet:
Assets | Amount (USD) | Liabilities and Equity | Amount (USD) |
Cash | $140,000 | Accounts Payable | $35,000 |
Accounts Receivable | $90,000 | Notes Payable | $40,000 |
Inventory | $110,000 | Long-term Debt | $170,000 |
Property | $240,000 | Shareholders' Equity | $350,000 |
Calculate the current ratio for the company.
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
25th edition
978-1285069609, 1285069609, 978-1133607601
