Current Ratio Gungor Inc. reported the following current accounts at the end of two recent years: December 31, 2017 December 31, 2016 Cash $3,150 $6,300 Accounts receivable 15,000 10,000 Inventory 12,000 8,000 Accounts payable 12,000 7,000 Wages payable 2,000 1,000 Notes payable 6,000 4,000 Requiredi 1. The current ratio for December 31, 2017 and for December 31, 2016, respectively are 2. Gungor's hiquidity has at the end of 2017 compared to the end of 2016 due to lincreasing by the in current habilites 3. The change in composition of the companys current assets at the end of 2017 compared to the end of 2016 reflects accounts recevable and iventery Cash and
Current Ratio Gungor Inc. reported the following current accounts at the end of two recent years: December 31, 2017 December 31, 2016 Cash $3,150 $6,300 Accounts receivable 15,000 10,000 Inventory 12,000 8,000 Accounts payable 12,000 7,000 Wages payable 2,000 1,000 Notes payable 6,000 4,000 Requiredi 1. The current ratio for December 31, 2017 and for December 31, 2016, respectively are 2. Gungor's hiquidity has at the end of 2017 compared to the end of 2016 due to lincreasing by the in current habilites 3. The change in composition of the companys current assets at the end of 2017 compared to the end of 2016 reflects accounts recevable and iventery Cash and
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Please answer required 1,2,3
Transcribed Image Text:Current Ratio
Gungor Inc. reported the following current accounts at the end of two recent years:
December 31, 2017
December 31, 2016
Cash
$3,150
$6,300
Accounts recervable
15,000
10,000
Inventory
12,000
8,000
Accounts payable
12,000
7,000
Wages payable
2,000
1,000
Notes payable
6,000
4,000
Required:
1. The current ratio for December 31, 2017 and for December 31, 2016, respectively are!
2. Gungor's liquidity has
at the end of 2017 compared to the end of 2016 due to
increasing by
the
in current lablities
3. The change n compoution of the company's current assets at the end of 2017 compared to the end of 2016 reflects
accounts recenable and iventory
Cash and
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
Recommended textbooks for you
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education