Camaro GTO Torino Cash $ 2,000 $ 110 $ 1,000 Short-term investments 50 0 580 Current receivables 350 470 700 Inventory 2,600 2,420 4,230 Prepaid expenses 200 500 900 Total current assets $ 5,200 $ 3,500 $ 7,410 Current liabilities $ 2,000 $ 1,000 $ 3,800 Compute the current ratio and acid-test ratio for each of the following separate cases.
Camaro GTO Torino Cash $ 2,000 $ 110 $ 1,000 Short-term investments 50 0 580 Current receivables 350 470 700 Inventory 2,600 2,420 4,230 Prepaid expenses 200 500 900 Total current assets $ 5,200 $ 3,500 $ 7,410 Current liabilities $ 2,000 $ 1,000 $ 3,800 Compute the current ratio and acid-test ratio for each of the following separate cases.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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| Camaro | GTO | Torino | |||||||
| Cash | $ | 2,000 | $ | 110 | $ | 1,000 | |||
| Short-term investments | 50 | 0 | 580 | ||||||
| Current receivables | 350 | 470 | 700 | ||||||
| Inventory | 2,600 | 2,420 | 4,230 | ||||||
| Prepaid expenses | 200 | 500 | 900 | ||||||
| Total current assets | $ | 5,200 | $ | 3,500 | $ | 7,410 | |||
| Current liabilities | $ | 2,000 | $ | 1,000 | $ | 3,800 | |||
Compute the
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