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The following amounts were reported on the December 31, 2022, balance sheet: Cash Land Accounts payable Bonds payable Merchandise inventory Retained earnings Buildings and equipment, net of accumulated depreciation Accounts receivable Common stock Wages payable The current ratio at December 31, 2022 was: Multiple Choice O 1.5 6.0 3.0 $ 8,000 20,000 15,000 120,000 30,000 80,000 180,000 22,000 40,000 5,000

The following amounts were reported on the December 31, 2022, balance sheet: Cash Land Accounts payable Bonds payable Merchandise inventory Retained earnings Buildings and equipment, net of accumulated depreciation Accounts receivable Common stock Wages payable The current ratio at December 31, 2022 was: Multiple Choice O 1.5 6.0 3.0 $ 8,000 20,000 15,000 120,000 30,000 80,000 180,000 22,000 40,000 5,000

FINANCIAL ACCOUNTING
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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The following amounts were reported on the December 31, 2022, balance sheet: Cash Land Accounts payable Bonds payable Merchandise inventory Retained earnings Buildings and equipment, net of accumulated depreciation Accounts receivable Common stock Wages payable The current ratio at December 31, 2022 was: Multiple Choice O O 1.5 6.0 3.0 4.0 $ 8,000 20,000 15,000 120,000 30,000 80,000 180,000 22,000 40,000 5,000
Transcribed Image Text:The following amounts were reported on the December 31, 2022, balance sheet: Cash Land Accounts payable Bonds payable Merchandise inventory Retained earnings Buildings and equipment, net of accumulated depreciation Accounts receivable Common stock Wages payable The current ratio at December 31, 2022 was: Multiple Choice O O 1.5 6.0 3.0 4.0 $ 8,000 20,000 15,000 120,000 30,000 80,000 180,000 22,000 40,000 5,000
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