Calculate Thompson Corporation's current ratio using the following information: ⚫ Accounts receivable: $25,000 Buildings: $80,000 • Cash: $12,000 • • Supplies: $4,500 • • • . • Prepaid expenses: $3,200 Notes payable (due in 2 years): $40,000 Accounts payable: $15,000 Wages payable: $5,000 Unearned revenue: $3,500
Calculate Thompson Corporation's current ratio using the following information: ⚫ Accounts receivable: $25,000 Buildings: $80,000 • Cash: $12,000 • • Supplies: $4,500 • • • . • Prepaid expenses: $3,200 Notes payable (due in 2 years): $40,000 Accounts payable: $15,000 Wages payable: $5,000 Unearned revenue: $3,500
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 11MCQ: Chasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital...
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Calculate Thompson corporations
Transcribed Image Text:Calculate Thompson Corporation's current ratio using the following information:
⚫ Accounts receivable: $25,000
Buildings: $80,000
•
Cash: $12,000
•
•
Supplies: $4,500
•
•
•
.
•
Prepaid expenses: $3,200
Notes payable (due in 2 years): $40,000
Accounts payable: $15,000
Wages payable: $5,000
Unearned revenue: $3,500
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