The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable, and inventory. The balance sheet revealed the following: Inventory Total assets Current ratio Acid-test ratio Debt to equity ratio 1. Current assets 2. Shareholders' equity $ 990,000 $ 3,500,000 Required: Determine the following balance sheet items: 3. Long-term assets 4. Long-term liabilities 2.10 1.20 1.8
The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable, and inventory. The balance sheet revealed the following: Inventory Total assets Current ratio Acid-test ratio Debt to equity ratio 1. Current assets 2. Shareholders' equity $ 990,000 $ 3,500,000 Required: Determine the following balance sheet items: 3. Long-term assets 4. Long-term liabilities 2.10 1.20 1.8
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable,
and inventory. The balance sheet revealed the following:
Inventory
Total assets
Current ratio
Acid-test ratio
Debt to equity ratio
$ 990,000
$ 3,500,000
1. Current assets
2. Shareholders' equity
3. Long-term assets
4. Long-term liabilities
2.10
1.20
1.8
Required:
Determine the following balance sheet items:
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