INTERMEDIATE ACCOUNTING(LL)+ACCESS
17th Edition
ISBN: 9781119503583
Author: Kieso
Publisher: JOHN WILEY+SONS INC.
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I am searching for the correct answer to this financial accounting problem with proper accounting rules.
Financial Accounting Question please answer
Assume that the current ratio for Delta Enterprises is 2.8,
its acid-test ratio is 1.2, and its working capital is
$420,000.
Required:
a. How much does the firm have in current liabilities?
b. If the only current assets shown on the balance sheet
for Delta Enterprises are Cash, Accounts Receivable, and
Merchandise Inventory, how much does the firm have in
Merchandise Inventory?
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