The following information was taken from the balance sheet of Aglugub CashP 13 250Accounts PayableP 25 200Accounts Receivable (net)33 000Accrued Payable1 800Merchandise Inventory40 000Notes Payable10 000Prepaid Expenses9 950 REQUIRED: Calculate the working capital, current ratio and quick ratio.

Name: The following information was taken from the balance sheet of Aglugub
Uploaded: 2022-11-18T00:26:54.000Z
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Description: The following information was taken from the balance sheet of Aglugub CashP 13 250Accounts PayableP 25 200Accounts Receivable (net)33 000Accrued Payable1 800Merchandise Inventory40 000Notes Payable10 000Prepaid Expenses9 950 REQUIRED: Calculate the

Formula: Working capital = Current Assets - Current liabilities. Current ratio = Current Assets /…

Answered: The following information was taken…

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 information was taken from the balance sheet of Aglugub

Cash	P 13 250	Accounts Payable	P 25 200
Accounts Receivable (net)	33 000	Accrued Payable	1 800
Merchandise Inventory	40 000	Notes Payable	10 000
Prepaid Expenses	9 950

REQUIRED: Calculate the working capital, current ratio and quick ratio.

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