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 $503,000, what is the amount of current liabilities?
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What is the amount of current liabilities?
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- The current ratio of a company is 5:1, and its acid-test ratio is 2:1. If the inventories and prepaid items amount to $450,000, what is the amount of current liabilities? Answer this financial accounting problem. AnsWhat is the amount of current liabilities on these general accounting question?What is the amount of current liabilities on these general accounting question?
- At the end of June 30, 2022, FDN Company has the following summary ledger accounts: Asset = P500,000 Debit Liability = P300,000 Credit Equity = P200,000 Credit Sales = P350,000 Credit Expense = ? How much is the balance of the Expense account?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.Cotuit company's current liabilities must be
- If current assets are $112,000 and current liabilities are $56,000, what is the current ratio?Calculate the total current assets?c) A company has current assets of $92,000 (of which $37,000 is inventory and prepaid items) and current liabilities of $37,000. What is the current ratio? What is the acid-test ratio? If the company borrows $14,000 cash from a bank on a 120-day loan, what will its current ratio be? What will the acid-test ratio be? (Round answers to 2 decimal places, e.g. 2.50.) Current Ratio enter the ratio rounded to 2 decimal places :1 Acid Test Ratio enter the ratio rounded to 2 decimal places :1 New Current Ratio enter the ratio rounded to 2 decimal places :1 New Acid Test Ratio enter the ratio rounded to 2 decimal places