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A small company has $8 in cash, accounts receivable of $12, accounts payable of $7, inventory of $9, and accrued expenses of $4. Calculate the current ratio for the company.

A small company has $8 in cash, accounts receivable of $12, accounts payable of $7, inventory of $9, and accrued expenses of $4. Calculate the current ratio for the company.

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....
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A small company has $8 in cash, accounts receivable of $12, accounts payable of $7, inventory of $9, and accrued expenses of $4. Calculate the current ratio for the company.
Transcribed Image Text:A small company has $8 in cash, accounts receivable of $12, accounts payable of $7, inventory of $9, and accrued expenses of $4. Calculate the current ratio for the company.
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