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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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Current assets and current liabilities for Brimstone Company follow:
2019
2018
Current assets
$1,586,250
$1,210,000
Current liabilities
705,000
550,000
a. Determine the working capital and current ratio for 2019 and 2018.
b.
Does the change in the current ratio from 2018 to 2019 indicate a favorable
or an unfavorable change?

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