15 - XYZ Co. is a retail company and its selected financial statements items are given as following. Its Total Assets are 42300 and 39300 respectively for the year 2020 and 2019. Its Total Current Assets are 20200 and 17700 respectively for the year 2020 and 2019. Its Total Liabilities are 31500 and 29200 respectively for the year 2020 and 2019. Its To Current Liabilities are 21500 and 18800 respectively for the year 2020 and 2019. Inventory equals to 7500 and 6800 respectively for the year 2020 and 2019. Cash and Cash Equivalents equals to 4000 and 3000 respectively for the ye 2020 and 2019. (All numbers are in dollars). What is current ratio of XYZ Co. for the year 2020? a) 94% b) O 74% 84% d) 99%

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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15 - XYZ Co. is a retail company and its selected financial statements items are given as following. Its Total Assets are
42300 and 39300 respectively for the year 2020 and 2019. Its Total Current Assets are 20200 and 17700 respectively
for the year 2020 and 2019. Its Total Liabilities are 31500 and 29200 respectively for the year 2020 and 2019. Its Tot
Current Liabilities are 21500 and 18800 respectively for the year 2020 and 2019. Inventory equals to 7500 and 6800
respectively for the year 2020 and 2019. Cash and Cash Equivalents equals to 4000 and 3000 respectively for the ye
2020 and 2019. (All numbers are in dollars).
What is current ratio of XYZ Co. for the year 2020?
a)
94%
b)
74%
84%
d)
99%
Transcribed Image Text:15 - XYZ Co. is a retail company and its selected financial statements items are given as following. Its Total Assets are 42300 and 39300 respectively for the year 2020 and 2019. Its Total Current Assets are 20200 and 17700 respectively for the year 2020 and 2019. Its Total Liabilities are 31500 and 29200 respectively for the year 2020 and 2019. Its Tot Current Liabilities are 21500 and 18800 respectively for the year 2020 and 2019. Inventory equals to 7500 and 6800 respectively for the year 2020 and 2019. Cash and Cash Equivalents equals to 4000 and 3000 respectively for the ye 2020 and 2019. (All numbers are in dollars). What is current ratio of XYZ Co. for the year 2020? a) 94% b) 74% 84% d) 99%
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