I need the correct answer to this general accounting problem using the standard accounting approach. Rebecca Corp. has a current ratio of 4.8 and an acid-test ratio of 4.3. The company's current assets consistof cash, marketable securities, accounts receivable,and inventories. Inventory equals $18,000.Rebecca Corp.'s current liabilities must be:a) $24,000b) $36,000c) $90,000d) $120,000

Step 1: Definitions Concept of Current Ratio:Current Ratio is a liquidity ratio that measures a…

Answered: Rebecca Corp. has a current ratio of…

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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Rebecca Corp. has a current ratio of 4.8 and an acid- test ratio of 4.3. The company's current assets consist of cash, marketable securities, accounts receivable, and inventories. Inventory equals $18,000. Rebecca Corp.'s current liabilities must be: a) $24,000 b) $36,000 c) $90,000 d) $120,000