Question
The following extracts are taken from the Statement of financial position of Warren: Property plant and equipment 80,000 I nventory 18,000 Trade receivables 19,500 Bank
The following extracts are taken from the Statement of financial position of Warren:
Property plant and equipment 80,000 I
nventory 18,000
Trade receivables 19,500
Bank overdraft 5,100
Trade payables 20,500
Tax payable 6,400
Calculate the current ratio (answer to two decimal place)
a. 1.46:1
b. 1.20:1
c. 1.17:1
d. 3.67:1
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Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
13th Edition
978-0073379616, 73379611, 978-0697789938
