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 31, 2020 and December 31, 2021. (Round the final answer

image text in transcribed

The following is selected simplified information from Organic Catering's balance Sheet as at December 31, 2020 and December 31, 2021. (Round the final answer to two decimal places.) Cash (Numbers in thousands) Accounts receivable Notes receivable (current) Inventories Prepaid expenses and other (current) assets Current liabilities Total liabilities: Shareholders' equity Source: Organic Catering 2021 Annual Report Calculate the current ratio and quick ratio. 2021 2020 $ 6,501 $3,880 4,368 4,616 220 265 123 137 190 695 11,061 10,649 31,376 31,980 45,964 56,700 2021 2020 Current Ratio cos Quick Ratio

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Managerial Accounting

Authors: Karen W. Braun, Wendy M. Tietz

4th edition

978-0133428377

Students also viewed these Accounting questions