Accounts receivable Accounts payable Buildings Cash $ 18,000 Long-term notes payable 11,000 Office supplies 45,000 Prepaid insurance 7,000 Unearned services revenue $ 21,000 2,600 3,200 3,000 Compute Chavez Company's current ratio using the above information.

Accounts receivable Accounts payable Buildings Cash $ 18,000 Long-term notes payable 11,000 Office supplies 45,000 Prepaid insurance 7,000 Unearned services revenue $ 21,000 2,600 3,200 3,000 Compute Chavez Company's current ratio using the above information.

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 44E: Whalen Company had net sales of 125,500,250,000. Whalen had the following balances: Required: Note:...

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Question

Accounts receivable
Accounts payable
Buildings
$ 18,000 Long-term notes payable
11,000 Office supplies
45,000 Prepaid insurance
7,000 Unearned services revenue
$ 21,000
2,600
3, 200
3,000
Cash
Compute Chavez Company's current ratio using the above information.

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