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Requirements Calculate Spirit of South Dakota Logistics' current ratio. 1. 2. How much in current assets does Spirit of South Dakota Logistics have for every dollar of current liabilities that it owes? Requirement 1. Calculate Spirit of South Dakota Logistics' current ratio. (Round your answer to two decimal places, XXX.) Current ratio !3!

Requirements Calculate Spirit of South Dakota Logistics' current ratio. 1. 2. How much in current assets does Spirit of South Dakota Logistics have for every dollar of current liabilities that it owes? Requirement 1. Calculate Spirit of South Dakota Logistics' current ratio. (Round your answer to two decimal places, XXX.) Current ratio !3!

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Requirements 1. Calculate Spirit of South Dakota Logistics' current ratio. 2. How much in current assets does Spirit of South Dakota Logistics have for every dollar of current liabilities that it owes? Requirement 1. Calculate Spirit of South Dakota Logistics' current ratio. (Round your answer to two decimal places, XXX) Current ratio
Transcribed Image Text:Requirements 1. Calculate Spirit of South Dakota Logistics' current ratio. 2. How much in current assets does Spirit of South Dakota Logistics have for every dollar of current liabilities that it owes? Requirement 1. Calculate Spirit of South Dakota Logistics' current ratio. (Round your answer to two decimal places, XXX) Current ratio
Notes Payable, long-term 9,000 Accounts Payable 3,500 1,900 Accounts Receivable 6,200 Prepaid Rent 1.600 Cash 3400 Salaries Payable 1,800 Depreciation Expense-Equip. Equipment 12.500 Service Revenue 20,000 1,100 Office Supplies 4,000 6.000 Common Stock Accumulated Depreciation-Equip. 1.600 600 Rent Expense Advertising Expense Pnnt Done %24 %24
Transcribed Image Text:Notes Payable, long-term 9,000 Accounts Payable 3,500 1,900 Accounts Receivable 6,200 Prepaid Rent 1.600 Cash 3400 Salaries Payable 1,800 Depreciation Expense-Equip. Equipment 12.500 Service Revenue 20,000 1,100 Office Supplies 4,000 6.000 Common Stock Accumulated Depreciation-Equip. 1.600 600 Rent Expense Advertising Expense Pnnt Done %24 %24
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