15 - XYZ Co. is a retail company and its selected financial statements items are given as following. Its Total Assets are42300 and 39300 respectively for the year 2020 and 2019. Its Total Current Assets are 20200 and 17700 respectivelyfor the year 2020 and 2019. Its Total Liabilities are 31500 and 29200 respectively for the year 2020 and 2019. Its TotCurrent Liabilities are 21500 and 18800 respectively for the year 2020 and 2019. Inventory equals to 7500 and 6800respectively for the year 2020 and 2019. Cash and Cash Equivalents equals to 4000 and 3000 respectively for the ye2020 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%

Current Ratio is the ratio between current assets and current liabilities of the business. It…

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%

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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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