Kirsten Company presented the following data at the end of 2019: Cash $1,800,000 Accounts receivable 3,200,000...
Kirsten Company presented the following data at the end of 2019:
|
Cash |
$1,800,000 |
|
Accounts receivable |
3,200,000 |
|
Merchandise inventory |
2,800,000 |
|
Prepaid insurance |
300,000 |
|
Property & equipment |
8,000,000 |
|
Accounts payable |
750,000 |
|
Unearned revenue |
800,000 |
|
Wages payable |
1,600,000 |
|
Bonds payable |
4,000,000 |
Determine the current ratio for Kirsten Company (rounded).
Select one:
A. 2.38
B. 4.41
C. 2.57
D. 4.23
Homework Answers
|
Current Ratio = Current assets /Current liabilities = (1,800,000+3,200,000+2,800,000+300,000)/(750,000+800,000+1,600,000) = 8,100,000/3,150,000 = 2.57 Option C is the answer |
|
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Kirsten Company presented the following data at the end of
2019:
Cash
$1,800,000
Accounts receivable
3,200,000...
Dube from the 4 1. Kirsten Company presented the following data at the end of 2019...
Dube from the 4 1. Kirsten Company presented the following data at the end of 2019 A Cash $1,800 000 Accounts receivable 3.200.000 Merchandise inventory 2.800,000 A Prepaid insurance 300.000 Property & equipment 8.000.000 Accounts payable 750.000 L- Unearned revenue 800.000 Wages payable 1,800,000 NC Bonds payable 4,000,000 Determine the current ratio for Kirsten Company (rounded) A) 4.41 C) 2.57 Dj 238 tables 2. Data from the financial statements of Dils Brothers Co and J. Cox, Inc. are presented below...
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