Calculate Martinez Company's current ratio using the following information: . • Cash: $15,000 Accounts receivable: $22,000 Inventory: $8,500 Prepaid rent: $3,000 Equipment: $55,000 • • Accounts payable: $12,000 • Unearned revenue: $4,500 • Long-term debt: $35,000

Calculate Martinez Company's current ratio using the following information: . • Cash: $15,000 Accounts receivable: $22,000 Inventory: $8,500 Prepaid rent: $3,000 Equipment: $55,000 • • Accounts payable: $12,000 • Unearned revenue: $4,500 • Long-term debt: $35,000

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 50E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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Question

Need help with this accounting questions

Calculate Martinez Company's current ratio using the following information:
.
•
Cash: $15,000
Accounts receivable: $22,000
Inventory: $8,500
Prepaid rent: $3,000
Equipment: $55,000
•
•
Accounts payable: $12,000
•
Unearned revenue: $4,500
•
Long-term debt: $35,000

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