Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the following data to calculate the current ratio. Marigold Corp. Balance Sheet December 31, 2022 $189000 Accounts payable 152000 Salaries and wages payable 167000

image text in transcribed

Use the following data to calculate the current ratio. Marigold Corp. Balance Sheet December 31, 2022 $189000 Accounts payable 152000 Salaries and wages payable 167000 Mortgage payable 85800 Total liabilities 264000 259000 $314000 Common stock Cash Accounts receivable Inventory Prepaid insurance Stock investments (long-term) Land Buildings Less: Accumulated depreciation $207000 30000 247500 $484500 $372300 (56000) 258000 726000 Goodwill 208000 Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $1098300 Total assets $1582800 $1582800 O 2.87:1 O 2.14:1 O 1.45:1 O 2.51:1

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

Public Sector Accounting

Authors: Rowan Jones, Maurice Pendlebury

6th Edition

0273720368, 9780273720362

More Books

Students also viewed these Accounting questions