Question
Your Company has the following financial information: Cash Assets Accounts receivable Prepaid Rent-5 months Short term investments Equipment Land $35,875 18,750 1,250 19,750 95,000
Your Company has the following financial information: Cash Assets Accounts receivable Prepaid Rent-5 months Short term investments Equipment Land $35,875 18,750 1,250 19,750 95,000 75,000 $245,625 Total assets Liabilities Accounts Payable $42,000 Unearned Revenue - due in 3 months 13,500 - Bank loan due in 5 years 36,000 Total liabilities $91,500 Owners' Equity Retained earnings $35,000 Common stock 119,125 Total Owners' Equity $154,125 Total Liabilities & Owners' Equity $245,625 What is its Current Ratio? O 0.78 O1.59 O 1.36 2.68 0.49
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started