Question
Selected information from the statement of financial position (balance sheet) of Daisy Dollar, a small discount store, (dollar amounts are in thousands) below. Cash 85
Selected information from the statement of financial position (balance sheet) of Daisy Dollar, a small discount store, (dollar amounts are in thousands) below.
Cash 85
Account receivable 145
Inventory 290
Total assets 950
Current liabilities 400
Noncurrent liabilities 425
What is the current ratio?
a) 0.36 to 1
b) 0.58 to 1
c) 0.73 to 1
d) 1.3 to 1
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Financial Statement Fraud Casebook Baking The Ledgers And Cooking The Books
Authors: Joseph T. Wells
1st Edition
0470934417, 978-0470934418
