48. (Learning Objectives 1, 5: Reporting current liabilities) The top management of Pratt Marketing Services examines the following company accounting records at August 29, immedi- ately before the end of the year, August 31: Total current assets $ 324,700 324790 Non-current assets 1,067,500 $1,392,200 $/ 193,400 Total current liabilities 129880 Non-current liabilities 253,400 Owners' equity 945,400 $1,392,200- Suppose Pratt's management wants to achieve a current ratio of 2.5. How much in current liabili- ties should Pratt pay off within the next two days in order to achieve its goal? 6220

48. (Learning Objectives 1, 5: Reporting current liabilities) The top management of Pratt Marketing Services examines the following company accounting records at August 29, immedi- ately before the end of the year, August 31: Total current assets $ 324,700 324790 Non-current assets 1,067,500 $1,392,200 $/ 193,400 Total current liabilities 129880 Non-current liabilities 253,400 Owners' equity 945,400 $1,392,200- Suppose Pratt's management wants to achieve a current ratio of 2.5. How much in current liabili- ties should Pratt pay off within the next two days in order to achieve its goal? 6220

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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