Sando Company Statements of Financial Position December 31,2012 and 2011 2012 Assets Cash $ 43,000 .......... Accounts receivable... 38,000 ..... ............ Merchandise inventory 61,000 ...... Prepaid insurance.... 6,000 ......... Long-term investments.... 49,000 .... Property, plant and equipment (net). 218,000 $415,000 Total assets. . Liabilities and Equity Current liabilities. . $62,000 45,000 Long-term liabilities.. Share capital... Retained earnings. . .... 150,000 158,000 $415,000 Total liabilities and equity...

Sando Company Statements of Financial Position December 31,2012 and 2011 2012 Assets Cash $ 43,000 .......... Accounts receivable... 38,000 ..... ............ Merchandise inventory 61,000 ...... Prepaid insurance.... 6,000 ......... Long-term investments.... 49,000 .... Property, plant and equipment (net). 218,000 $415,000 Total assets. . Liabilities and Equity Current liabilities. . $62,000 45,000 Long-term liabilities.. Share capital... Retained earnings. . .... 150,000 158,000 $415,000 Total liabilities and equity...

Name: Calculate current ratio for the following financial statement. Sando C
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Description: Calculate current ratio for the following financial statement. Sando CompanyStatements of Financial PositionDecember 31,2012 and 20112012AssetsCash$ 43,000$2Accounts receivable.....38,000...Merchandise inventory61,000.......Prepaid insurance...6,000L

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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Practice Pack

OFFON

Calculate current ratio for the following financial statement.

Sando Company
Statements of Financial Position
December 31,2012 and 2011
2012
Assets
Cash
$ 43,000
$2
Accounts receivable.....
38,000
...
Merchandise inventory
61,000
.......
Prepaid insurance...
6,000
Long-term investments.....
49,000
.....
Property, plant and equipment (net .
218,000
....
$415,000
Total assets. .
Liabilities and Equity
Current liabilities....
$ 62,000
45,000
Long-term liabilities....
150,000
Share capital. .
158,000
Retained earnings..
$415,000
Total liabilities and equity..

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