At December 31 a company's records show the following information $ 10,000 30,000 Cash Accounts Receivable Inventory Prepaid Insurance Long-term Assets Accounts Payable Notes Payable due in 10 months Wages Payable Long-term Liabilities Stockholders' (Owner's) Equity 80,000 6,000 200,000 30,000 25,000 5,000 70,000 196,000 Find the following: 1- The company's working capital 2- The company's current ratio 3- The company's quick ratio

At December 31 a company's records show the following information $ 10,000 30,000 Cash Accounts Receivable Inventory Prepaid Insurance Long-term Assets Accounts Payable Notes Payable due in 10 months Wages Payable Long-term Liabilities Stockholders' (Owner's) Equity 80,000 6,000 200,000 30,000 25,000 5,000 70,000 196,000 Find the following: 1- The company's working capital 2- The company's current ratio 3- The company's quick ratio

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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Concept explainers

Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.

Question

At December 31 a company's records show the following information
$ 10,000
30,000
80,000
Cash
Accounts Receivable
Inventory
Prepaid Insurance
Long-term Assets
Accounts Payable
Notes Payable due in 10 months
Wages Payable
Long-term Liabilities
Stockholders' (Owner's) Equity
6,000
200,000
30,000
25,000
5,000
70,000
196,000
Find the following:
1- The company's working capital
2- The company's current ratio
3- The company's quick ratio

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