I want to correct answer accounting questions A company has a current ratio of 1.85, total liabilities of $250,000,long-term debt of $150,000 (the only long-term liability), and a quickratio of 0.88. What are the total current assets?

Step 1: Definition of Current Ratio and Quick RatioCurrent Ratio: Measures a company's ability to…

Answered: A company has a current ratio of 1.85,…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 15MCQ: Hummel Inc. has $30,000 in current assets and $15,000 in current liabilities. What is Hummels...

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A company has a current ratio of 1.85, total liabilities of $250,000, long-term debt of $150,000 (the only long-term liability), and a quick ratio of 0.88. What are the total current assets?