The following information is taken from the balance sheet of Atlanta Company: $1,368 1,480 $ 2,848 Current assets Property, Plant & Equipment Total assets What is Atlanta Company's current ratio? Multiple Choice 1.96 to 1 1.9 to 1 2.01 to 1 0.5 to 1 Current liabilities Noncurrent liabilities Total liabilities $ 720 730 $ 1,450
The following information is taken from the balance sheet of Atlanta Company: $1,368 1,480 $ 2,848 Current assets Property, Plant & Equipment Total assets What is Atlanta Company's current ratio? Multiple Choice 1.96 to 1 1.9 to 1 2.01 to 1 0.5 to 1 Current liabilities Noncurrent liabilities Total liabilities $ 720 730 $ 1,450
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![The following information is taken from the balance sheet of Atlanta Company:
- **Current assets**: $1,368
- **Current liabilities**: $720
- **Property, Plant & Equipment**: $1,480
- **Noncurrent liabilities**: $730
- **Total assets**: $2,848
- **Total liabilities**: $1,450
---
**What is Atlanta Company's current ratio?**
### Multiple Choice
- ○ 1.96 to 1
- ○ 1.9 to 1
- ○ 2.01 to 1
- ○ 0.5 to 1
**Explanation of Diagram**
The section of the image shows a balance sheet with account values such as assets and liabilities, followed by a multiple-choice question about calculating the current ratio. The current ratio is found by dividing current assets by current liabilities. The values provided in the balance sheet are used to determine the correct choice.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fad473958-4d22-417a-92f1-83b4b2a43a39%2F35fed462-2df1-4653-b0d0-e4f2716fefcd%2F9gl0808_processed.png&w=3840&q=75)
Transcribed Image Text:The following information is taken from the balance sheet of Atlanta Company:
- **Current assets**: $1,368
- **Current liabilities**: $720
- **Property, Plant & Equipment**: $1,480
- **Noncurrent liabilities**: $730
- **Total assets**: $2,848
- **Total liabilities**: $1,450
---
**What is Atlanta Company's current ratio?**
### Multiple Choice
- ○ 1.96 to 1
- ○ 1.9 to 1
- ○ 2.01 to 1
- ○ 0.5 to 1
**Explanation of Diagram**
The section of the image shows a balance sheet with account values such as assets and liabilities, followed by a multiple-choice question about calculating the current ratio. The current ratio is found by dividing current assets by current liabilities. The values provided in the balance sheet are used to determine the correct choice.
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