Camaro $2,000 $ 110 $1,000 50 350 GTO Cash Short-term investments Current receivables Inventory Prepaid expenses Torino 580 700 470 2,600 200 2,420 500 $5,200 $3,500 $7,410 4,230 900 Total current assets Current liabilities $2,000 $1,000 $3,800 Compute the current ratio and acid-test ratio for each of the following separate cases. Current Ratio Choose Numerator: Choose Denominator: Current Ratio Current ratio %3D Camaro 0 to 1 %3D 0 to 1 GTO 0 to 1 Torino Acid-Test Ratio Choose Denominator: Acid-Test Ratio Choose Numerator: Acid-test ratio %3D O to 1 %3D Camaro o to 1 %3D GTO 0 to 1 %3D Torino %3D

Camaro $2,000 $ 110 $1,000 50 350 GTO Cash Short-term investments Current receivables Inventory Prepaid expenses Torino 580 700 470 2,600 200 2,420 500 $5,200 $3,500 $7,410 4,230 900 Total current assets Current liabilities $2,000 $1,000 $3,800 Compute the current ratio and acid-test ratio for each of the following separate cases. Current Ratio Choose Numerator: Choose Denominator: Current Ratio Current ratio %3D Camaro 0 to 1 %3D 0 to 1 GTO 0 to 1 Torino Acid-Test Ratio Choose Denominator: Acid-Test Ratio Choose Numerator: Acid-test ratio %3D O to 1 %3D Camaro o to 1 %3D GTO 0 to 1 %3D Torino %3D

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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