ADVANCED ACCOUNT LL/W CONNECT +PROCTORIO
14th Edition
ISBN: 9781266173943
Author: Hoyle
Publisher: MCG
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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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