12. 1. Ifa company has current assets of $230,000 and current liabilities of $100,000 the company's current ratio is O 23:1 O 1:23 O 230:1

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 15MCQ: Hummel Inc. has $30,000 in current assets and $15,000 in current liabilities. What is Hummels...
Question
12. 1. If a company has current assets of $230,000 and current liabilities of $100,000 the
company's current ratio is
O 23:1
O 1:23
230: 1
100:1
Transcribed Image Text:12. 1. If a company has current assets of $230,000 and current liabilities of $100,000 the company's current ratio is O 23:1 O 1:23 230: 1 100:1
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Balance Sheet Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Intermediate Financial Management (MindTap Course…
Intermediate Financial Management (MindTap Course…
Finance
ISBN:
9781337395083
Author:
Eugene F. Brigham, Phillip R. Daves
Publisher:
Cengage Learning