Question
The financial statements of Clearwater Furniture Company include the following items: 2017 2016 Cash $63,500 $51,000 Short-term Investments 28,000 17,000 Net Accounts Receivable 94,000 106,000
The financial statements of Clearwater Furniture Company include the following items:
2017
2016
Cash
$63,500
$51,000
Short-term Investments
28,000
17,000
Net Accounts Receivable
94,000
106,000
Merchandise Inventory
157,000
143,000
Total Assets
531,000
544,000
Total Current Liabilities
234,000
217,000
Long-term Note Payable
62,000
52,000
What is 2017 cash ratio? (Round your answer to two decimal places)
0.21
0.12
0.39
0.27
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Essentials Of Accounting For Governmental And Not-for-Profit Organizations
Authors: Paul Copley
14th Edition
1260570177, 978-1260570175
