The following information (in millions) was taken from the December 31 financial statements 2021 2020 2019 $ 1.102 $ 1.080 $ 1.241 28 26 28 1,054 13,819 3,102 2,830 3,274 4,287 Accounts receivable, gross Allowance for expected credit losses Accounts receivable, net Revenues Total current assets Total current liabilities 13) Calculate the current ratio for 2020 1,074 14,477 3,426 3,120 1,213 14,917

The following information (in millions) was taken from the December 31 financial statements 2021 2020 2019 $ 1.102 $ 1.080 $ 1.241 28 26 28 1,054 13,819 3,102 2,830 3,274 4,287 Accounts receivable, gross Allowance for expected credit losses Accounts receivable, net Revenues Total current assets Total current liabilities 13) Calculate the current ratio for 2020 1,074 14,477 3,426 3,120 1,213 14,917

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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Question

The following information (in millions) was taken from the December 31 financial statements
Accounts receivable, gross
Allowance for expected credit losses
Accounts receivable, net
Revenues
Total current assets
Total current liabilities
13) Calculate the current ratio for 2020
13)
2021
$ 1.102
28
1,074
14,477
3,426
3,120
2020
$ 1.080
26
1,054
13,819
3,102
3,274
2019
$ 1.241
28
1,213
14,917
2,830
4,287

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