Question
The following financial information is for Chesapeake Corporation are for the fiscal years ending 2020 & 2019 (all balances are normal): Item/Account 2020 2019 Cash
The following financial information is for Chesapeake Corporation are for the fiscal years ending 2020 & 2019 (all balances are normal):
| Item/Account | 2020 | 2019 |
| Cash | 34,000 | $24,000 |
| Accounts Receivable | 56,000 | 52,000 |
| Inventory | 51,000 | 48,000 |
| Current Liabilities | 76,000 | 42,000 |
| Net Sales (all credit) | 550,000 | 485,000 |
| Cost of Goods Sold | 288,000 | 265,000 |
Use this information to determine the number of current ratio as of December 31, 2020: (Round & enter your answers to one decimal place and enter the value.)
Your Answer:
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Fundamental Financial Accounting Concepts Paperback By Edmonds Thomas P O
Authors: Thomas P. Edmonds, Christopher Edmonds, Mark A. Edmonds, Jennifer Edmonds, Philip R. Olds
11th Edition
9781264266234, 1264266235
