Cash $655,500 759,000 Marketable securities Accounts and notes receivable (net) 310,500 Inventories 643,500 Prepaid expenses 331,500 Total current assets Current liabilities: Accounts and notes payable Accrued liabilities (short-term) $2,700,000 $435,000 315,000 Total current liabilities $750,000 a. Determine for each year (1) the working capital, (2) the current ratio, and the que $520,000 585,000 195,000 475,800 304,200 195,000 $2,080,000 $455,000 $650,000 satio. Round ratios to
Cash $655,500 759,000 Marketable securities Accounts and notes receivable (net) 310,500 Inventories 643,500 Prepaid expenses 331,500 Total current assets Current liabilities: Accounts and notes payable Accrued liabilities (short-term) $2,700,000 $435,000 315,000 Total current liabilities $750,000 a. Determine for each year (1) the working capital, (2) the current ratio, and the que $520,000 585,000 195,000 475,800 304,200 195,000 $2,080,000 $455,000 $650,000 satio. Round ratios to
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Current assets:
Cash
$655,500
Marketable securities
759,000
Accounts and notes receivable (net) 310,500
Inventories
643,500
Prepaid expenses
331,500
Total current assets
Current liabilities:
Accounts and notes payable
Current Year
Accrued liabilities
(short-term)
$2,700,000
$435,000
Previous Year
315,000
Total current liabilities $750,000
a. Determine for each year (1) the working capital, (2) the current ratio, and
$520,000
585,000
195,000
475,800
304,200
195,000
$2,080,000
$455,000
$650,000
The quicle ratio. Round raties to a](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1a04177b-a3bc-4aa0-a4de-7c8a152eeed3%2Fc925d86e-009a-4c81-91fd-97235dbd5928%2F5j5lfab_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Current assets:
Cash
$655,500
Marketable securities
759,000
Accounts and notes receivable (net) 310,500
Inventories
643,500
Prepaid expenses
331,500
Total current assets
Current liabilities:
Accounts and notes payable
Current Year
Accrued liabilities
(short-term)
$2,700,000
$435,000
Previous Year
315,000
Total current liabilities $750,000
a. Determine for each year (1) the working capital, (2) the current ratio, and
$520,000
585,000
195,000
475,800
304,200
195,000
$2,080,000
$455,000
$650,000
The quicle ratio. Round raties to a
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