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Camaro GTO Torino Cash $1, 850 $ $ 130 $1,000 Short-term investments 500 Current receivables 160 410 450 Inventory 1,925 1,820 2,550 Prepaid expenses 200 500 900 Total current assets $4,135 $2,860 $5,400 Current liabilities $2,020 $1, 220 $3,050

Camaro GTO Torino Cash $1, 850 $ $ 130 $1,000 Short-term investments 500 Current receivables 160 410 450 Inventory 1,925 1,820 2,550 Prepaid expenses 200 500 900 Total current assets $4,135 $2,860 $5,400 Current liabilities $2,020 $1, 220 $3,050

FINANCIAL ACCOUNTING
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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Compute the current ratio and acid - test ratio for each of the following separate cases.
Camaro GTO Torino Cash $1,850 $ 130 $1,000 Short-term investments 500 Current receivables 160 410 450 Inventory Prepaid expenses 1,925 1,820 2,550 200 500 900 Total current assets $4,135 $2, 860 $5,400 Current liabilities $2,020 $1, 220 $3,050
Transcribed Image Text:Camaro GTO Torino Cash $1,850 $ 130 $1,000 Short-term investments 500 Current receivables 160 410 450 Inventory Prepaid expenses 1,925 1,820 2,550 200 500 900 Total current assets $4,135 $2, 860 $5,400 Current liabilities $2,020 $1, 220 $3,050
Current Ratio Choose Numerator: Choose Denominator: Current Ratio Current ratio Camaro %3D to 1 GTO %3D to 1 Torino to 1 Acid-Test Ratio Choose Numerator: Choose Denominator: %3D Acid-Test Ratio %3D Acid-test ratio Camaro to 1 %3D GTO to 1 %3D Torino to 1 %3D
Transcribed Image Text:Current Ratio Choose Numerator: Choose Denominator: Current Ratio Current ratio Camaro %3D to 1 GTO %3D to 1 Torino to 1 Acid-Test Ratio Choose Numerator: Choose Denominator: %3D Acid-Test Ratio %3D Acid-test ratio Camaro to 1 %3D GTO to 1 %3D Torino to 1 %3D
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