Question
Santos and Cecilia have the assets and liabilities attached below. Assume that Santos and Cecilia have monthly living expenses of $2000. Assets Condo $104000 Car
Santos and Cecilia have the assets and liabilities attached below. Assume that Santos and Cecilia have monthly living expenses of $2000.
Assets
Condo
$104000
Car
$22000
Furniture
$14000
Stocks
$10000
Savings account
$5000
Chequing account
$1200
Bonds
$15000
Cash
$150
Mutual funds
$7000
Liabilities
Mortgage
$81000
Car loan
$2750
Credit card balance
$165
Student loans
$15000
Furniture loan (6 months)
$1200
What is Santos and Cecilia's current ratio? Liquidity ratio? Debt-to asset ratio?
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Accounting Business Reporting For Decision Making
Authors: Jacqueline Birt, Keryn Chalmers, Albie Brooks, Suzanne Byrne, Judy Oliver
4th Edition
978-0730302414, 0730302415
