Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following is selected simplified information from Organic Catering s balance Sheet as at December 3 1 , 2 0 2 3 and December 3

The following is selected simplified information from Organic Caterings balance Sheet as at December 31,2023 and December 31,2024.(Round the final answer to two decimal places.)
(Numbers in thousands)20242023
Cash $ 6,501 $ 3,880
Accounts receivable 4,3684,616
Notes receivable (current)220265
Inventories 123137
Prepaid expenses and other (current) assets 190695
Current liabilities 11,06110,649
Total liabilities 31,37631,980
Shareholders equity 45,96456,700
Source: Organic Catering 2024 Annual Report.
Calculate the current ratio and quick ratio.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Using Financial Accounting Information The Alternative to Debits and Credits

Authors: Gary A. Porter, Curtis L. Norton

7th Edition

978-0-538-4527, 0-538-45274-9, 978-1133161646

More Books

Students also viewed these Accounting questions

Question

Describe at least three types of servers.

Answered: 1 week ago

Question

What is a subnet mask?

Answered: 1 week ago

Question

What benefits and problems does dynamic addressing provide?

Answered: 1 week ago