Question
Spartan Sportswear's current assets consist of cash, marketable securities, accounts receivable, and inventories. The following data were abstracted from a recent financial statement: Inventories $
Spartan Sportswear's current assets consist of cash, marketable securities, accounts receivable, and inventories. The following data were abstracted from a recent financial statement: Inventories $ 320,000 Total assets $ 865,000 Current ratio 3.2 Acid-test ratio 1.6 Debt to equity ratio 1.5 Required: Compute the noncurrent assets for Spartan:
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A Textbook Of Accounting For Management
Authors: S.N. Maheshwari
3rd Edition
9325956195, 978-9325956193
