Question
The financial statements for Barrington Service Company include the followingitems: 2019 2018 Cash $ 46 comma 500 $46,500 $ 41 comma 000 $41,000 Shortminus term
The financial statements for Barrington Service Company include the followingitems:
2019
2018
Cash
$ 46 comma 500
$46,500
$ 41 comma 000
$41,000
Shortminus
term Investments
31 comma 000
31,000
11 comma 000
11,000
Net Accounts Receivable
55 comma 000
55,000
53 comma 000
53,000
Merchandise Inventory
159 comma 000
159,000
42 comma 000
42,000
Total Assets
535 comma 000
535,000
545 comma 000
545,000
Accounts Payable
133 comma 500
133,500
129 comma 000
129,000
Salaries Payable
18 comma 000
18,000
14 comma 000
14,000
Longminus
term Note Payable
60 comma 000
60,000
52 comma 000
52,000
Compute the current ratio for 2018.(Round answer to two decimalplaces.)
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Financial Accounting
Authors: Robert Libby, Patricia A Libby
7th Edition
0078111021, 9780078111020
