Question
Selected financial information is available for Blossom Co. Year 1 Year 2 Year 3 Current assets 83,210 139,920 188,410 Current liabilities 53,000 88,000 83,000 Calculate
Selected financial information is available for Blossom Co.
| Year 1 | Year 2 | Year 3 | ||||
|---|---|---|---|---|---|---|
| Current assets | 83,210 | 139,920 | 188,410 | |||
| Current liabilities | 53,000 | 88,000 | 83,000 |
Calculate the working capital for Blossom Co. for the three years.
| Working capital | ||
|---|---|---|
| Year 1 | $ | |
| Year 2 | $ | |
| Year 3 | $ |
Calculate the current ratio of Blossom Co. for the three years. (Round answers to 2 decimal places, e.g. 15.26:1.)
| Current ratio | ||
|---|---|---|
| Year 1 | : 1 | |
| Year 2 | : 1 | |
| Year 3 | : 1 |
Comment on the trend of current ratio of Blossom Co.
| Blossom Co. show a trend of in the current ratio. |
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Accounting Principles Volume 2
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara A. Trenholm, Valerie A. Kinnear, Joan E. Barlow
6th Canadian Edition
1118557328, 978-1118557327
