Register
Based on the following information from Schrute Company's balance sheet, calculate the current ratio. Current assets $ 141,000 Investments 60,800 Plant assets 430,000 Current liabilities 57,000 Long-term
157k views
4 votes
Based on the following information from Schrute Company's balance sheet, calculate the current ratio. Current assets $ 141,000 Investments 60,800 Plant assets 430,000 Current liabilities 57,000 Long-term liabilities 108,000 A. Schrute, Capital 466,800

User Mbask
by
5.5k points

1 Answer

4 votes

Answer:

2.47

Step-by-step explanation:

Current ratio measure Liquidity of the firm and is calculated as ;

Current ratio = Current Assets ÷ Current Liabilities

Where,

Current Assets = $ 141,000

Current Liabilities = $57,000

Then,

Current ratio = $ 141,000 ÷ $57,000

= 2.47

User MSkuta
by
6.2k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.6m questions

7.3m answers

Other Questions

_____ reminds customers and clients that they made a good choice in selecting a company with which to do business, or it reminds them of the good qualities of their purchase.​
On august 1 the darius co. purchased a photocopy machine for $8,000. the estimated annual depreciation on the machine is $1,680. if the company prepares annual financial statements on december 31, the
When president obama was elected, the u.s. economy was in trouble, and has slid into a recession. consumer spending was low and getting worse. in an effort to stop the decline, president obama proposed
Ensuring that an individual is who they claim to be is the function of _____. select one: a. confidentiality b. authorization c. availability d. authentication e. nonrepudiation
The current market price for good y is above the equilibrium price, and then the price of a subsitute good, x, increases. the demand curve for good y shifts as a result. what is the likely outcome of the
Link Copied!