ABC Company has the following financial data: Cash: $30,000Accounts Receivable: $50,000Inventory: $40,000Accounts Payable: $25,000Short-term Debt: $15,000Other Current Liabilities: $20,000Calculate the following: Current AssetsCurrent LiabilitiesCurrent Ratio

ABC Company has the following financial data: Cash: $30,000Accounts Receivable: $50,000Inventory: $40,000Accounts Payable: $25,000Short-term Debt: $15,000Other Current Liabilities: $20,000Calculate the following: Current AssetsCurrent LiabilitiesCurrent Ratio

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity

Section: Chapter Questions

Problem 16P: Ratios Analyses: McCormick Refer to the information for McCormick above. Additional information for...

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Question

ABC Company has the following financial data:

Cash: $30,000
Accounts Receivable: $50,000
Inventory: $40,000
Accounts Payable: $25,000
Short-term Debt: $15,000
Other Current Liabilities: $20,000
Calculate the following:

Current Assets
Current Liabilities
Current Ratio

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