the company's current ratio (r
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Question 1
B&T Supply, Inc. has Cash of $1.000, Accounts Receivable $9,000, Office Supplies of
$500, Land of $50,000 and Buildings of $100,000. They owe $6,000 of Accounts
Payable, $1500 of Salaries Payable, and $75,000 of Long-term Notes Payable. What
is the company's current ratio (round to two decimals including zeros if needed)?
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