Question
Working Backward: Current Ratio Cass Corp.s December 31, 2016, balance sheet reported current assets of $120,000 and current liabilities of $100,000. The current ratio increased
Working Backward: Current Ratio
Cass Corp.s December 31, 2016, balance sheet reported current assets of $120,000 and current liabilities of $100,000. The current ratio increased by 25% one year later, on December 31, 2017. Current liabilities on this date were $140,000. Determine current assets on December 31, 2017.
The current assets are $fill in the blank 1
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Accounting Tools For Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
6th Edition
111919167X, 9781119191674
