The current ratio of a company is 6:1 and its acid-test ratio is 1:1. If the inventories and prepaid items amount to $511,000, what is the amount of current liabilities?
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What is the amount of current liabilities?
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- If a company computes its current ratio to be 3.56, what does this mean interms of the company’s current assets and current liabilities?Answer each of the questions in the following unrelated situations.(a) The current ratio of a company is 6:1 and its acid-test ratio is 1:1. If the inventories and prepaid items amount to $548,000, what is the amount of current liabilities?If current assets are $112,000 and current liabilities are $56,000, what is the current ratio?
- Compute the current ratio and acid-test ratio for each of the following separate cases. (Round ratios to two decimals.) Which company situation is in the best position to meet short-term obligations? Explain.Assume a company has working capital equal to $23,000 and total current liabilities equal to $75,000. The current ratio: is 0.31. Ois 1.31. Ois 3.21. cannot be determined using this information.6 )
- Resolve and explain the result of the current ratio for XYZ Company and compare andexplain this result with the Industry average, where current liabilities = $581,000 andcurrent assets = $832,000. a. Resolve the current ratio for XYZ Company b.Explain the result of the current ratio for XYZ Company c.Compare and explain the result of the current ratio for XYZ Company with the Industryaverage.??If a company has current assets of $15,000 and current liabilities of $9,375, its current ratio is 1.6. True or False True False
- Ace Industries has current assets equal to $4 million. The company's current ratio is 2.0, and its quick ratio is 1.7. What is the firm's level of current liabilities? What is the firm's level of inventories? Do not round intermediate calculations. Round your answers to the nearest dollar. Current Liabilities $ Inventory $A company has EBIT of $45,000 and interest expense of $15,000. What is its times interest earned ratio?where did the fixed sellind and admin $110,000 come from