Use the following data to calculate the current ratio.
|
Carne Auto Supplies |
|||||
|
Balance Sheet |
|||||
|
December 31, 2012 |
|||||
|
Cash |
$60,000 |
Accounts Payable |
$65,000 |
||
|
Prepaid Insurance |
40,000 |
Salaries Payable |
10,000 |
||
|
Accounts Receivable |
50,000 |
Mortgage Payable |
90,000 |
||
|
Inventory |
70,000 |
Total liabilities |
$165,000 |
||
|
Land held for Investment |
80,000 |
||||
|
Land |
95,000 |
||||
|
Buildings |
$100,000 |
Common Stock |
$120,000 |
||
|
Less Accumulated Depreciation |
(30,000) |
70,000 |
Retained Earnings |
250,000 |
|
|
Trademarks |
70,000 |
Total Stockholders' Equity |
$370,000 |
||
|
Total Assets |
$535,000 |
Total Liabilities and Stockholders' Equity |
$535,000 |
||
|
1.86 : 1. |
|
2.93 : 1. |
|
2.00 : 1. |
|
3.38 : 1. |
CLICK HERE TO GET THE ANSWER !!!!
No comments:
Post a Comment