Part of your job is to review customer requests for credit. You have three new credit applications on your desk and par analysis requires that the current ratios and quick ratios be compared. a. Complete the following schedule. (Round the final answers to 2 decimal places.) Account Kasta Nasta Dusta Cash $ 2,880 $ 2,280 $ 2,480 Current non-strategic investments $ 0 S 0 $ 1,420 Current receivables S 2,980 $ 1,540 $ 585 Inventory $ 2,140 $ 1,430 $ 12,220 Prepaid expenses S 405 $ 1,710 $ 4,580 Land S 5,850 S 6,930 $ 24,350 Current liabilities $ 3,810 $ 1,800 $ 10,040 Current ratio 1 :1 Quick ratio : 1 :1

Part of your job is to review customer requests for credit. You have three new credit applications on your desk and par analysis requires that the current ratios and quick ratios be compared. a. Complete the following schedule. (Round the final answers to 2 decimal places.) Account Kasta Nasta Dusta Cash $ 2,880 $ 2,280 $ 2,480 Current non-strategic investments $ 0 S 0 $ 1,420 Current receivables S 2,980 $ 1,540 $ 585 Inventory $ 2,140 $ 1,430 $ 12,220 Prepaid expenses S 405 $ 1,710 $ 4,580 Land S 5,850 S 6,930 $ 24,350 Current liabilities $ 3,810 $ 1,800 $ 10,040 Current ratio 1 :1 Quick ratio : 1 :1

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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