Use the following to answer the questions DO NOT INCLUDE COMMAS OR DOLLAR SIGNS IN YOUR ANSWERS Total Assets $875,000 Current assets $175,000 Total liabilities $390,000 Current liabilities $75,000 Retained earnings $185,000 How much is Paid-In Capital (Common Stock)? Determine the current ratio (rounded to 2 decimal places)

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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Use the following to answer the questions
DO NOT INCLUDE COMMAS OR DOLLAR SIGNS IN YOUR ANSWERS
Total Assets
$875,000
Current assets
$175,000
Total liabilities
$390,000
Current liabilities
$75,000
Retained earnings
$185,000
How much is Paid-In Capital (Common Stock)?
Determine the current ratio (rounded to 2 decimal places)
Transcribed Image Text:Use the following to answer the questions DO NOT INCLUDE COMMAS OR DOLLAR SIGNS IN YOUR ANSWERS Total Assets $875,000 Current assets $175,000 Total liabilities $390,000 Current liabilities $75,000 Retained earnings $185,000 How much is Paid-In Capital (Common Stock)? Determine the current ratio (rounded to 2 decimal places)
$875,000
Current assets
$175,000
Total liabilities
$390,000
Current liabilities
$75,000
Retained earnings
$185,000
How much is Paid-In Capital (Common Stock)?
Determine the current ratio (rounded to 2 decimal places)
• Previous
Transcribed Image Text:$875,000 Current assets $175,000 Total liabilities $390,000 Current liabilities $75,000 Retained earnings $185,000 How much is Paid-In Capital (Common Stock)? Determine the current ratio (rounded to 2 decimal places) • Previous
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