34) Fill in Correct answer: The financial statements of Trenton Office Supply include the following items: 2019 2018 Cash $51,500 $45,000 Short-term Investments 26,000 13,000 Net Accounts Receivable 94,000 100,000 Merchandise Inventory 135,000 126,000 Total Assets 534,000 550,000 Total Current Liabilities 260,000 235,000 Long-term Note Payable 57,000 50,000 What is the 2019 current ratio? (Round your answer to two decimal places.)
34) Fill in Correct answer: The financial statements of Trenton Office Supply include the following items: 2019 2018 Cash $51,500 $45,000 Short-term Investments 26,000 13,000 Net Accounts Receivable 94,000 100,000 Merchandise Inventory 135,000 126,000 Total Assets 534,000 550,000 Total Current Liabilities 260,000 235,000 Long-term Note Payable 57,000 50,000 What is the 2019 current ratio? (Round your answer to two decimal places.)
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 10EB: Starlight Enterprises has net credit sales for 2019 in the amount of $2,600,325, beginning accounts...
Question
![34) Fill in Correct answer: The financial statements of Trenton Office Supply include the following
items:
2019
2018
Cash
$51,500
$45,000
Short-term Investments
26,000
13,000
Net Accounts Receivable
94,000
100,000
Merchandise Inventory
135,000
126,000
Total Assets
534,000
550,000
Total Current Liabilities
260,000
235,000
Long-term Note Payable
57,000
50,000
What is the 2019 current ratio? (Round your answer to two decimal places.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fef60ede0-7b3f-409b-8f80-08619c6efb0a%2F826ea07f-6b23-494e-a786-94961a785009%2F8ug8ba_processed.png&w=3840&q=75)
Transcribed Image Text:34) Fill in Correct answer: The financial statements of Trenton Office Supply include the following
items:
2019
2018
Cash
$51,500
$45,000
Short-term Investments
26,000
13,000
Net Accounts Receivable
94,000
100,000
Merchandise Inventory
135,000
126,000
Total Assets
534,000
550,000
Total Current Liabilities
260,000
235,000
Long-term Note Payable
57,000
50,000
What is the 2019 current ratio? (Round your answer to two decimal places.)
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