12/31/2018 12/31/2019 Accounts payable $2,300 $6,400 Accounts receivable 3,500 8,400 Cash 4,600 21,000 Prepaid advertising 1,700 4,400 Utilities payable 1,000 6,600 Wages payable 1,700 9,100 Using the above account balances, compute working capital and current ratio.. Round "Current ratio" answers to two decimal places.

12/31/2018 12/31/2019 Accounts payable $2,300 $6,400 Accounts receivable 3,500 8,400 Cash 4,600 21,000 Prepaid advertising 1,700 4,400 Utilities payable 1,000 6,600 Wages payable 1,700 9,100 Using the above account balances, compute working capital and current ratio.. Round "Current ratio" answers to two decimal places.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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