total assets 3,540,000. total equity 1222000. liabilities current. current ratio .65. how much are xurrent assets.
Homework Answers
Sol: We are
given following information :-
Current ratio = 0.65 : 1
Total Assets = $ 3,540,000
Total Equity = $ 1,222,000
Assuming that on the Liabilities side of Balance Sheet, there are no other Liabilities than Current Liabilities.
So Current Liabilities = Total Assets - Total Equity
Current Liabilities = $ 3,540,000 - $ 1,222,000 = $ 2,318,000
Now we have Current Ratio = (Current Assets/ Current Liabilities)
We have the values of Current ratio = 0.65
Current Liabilities = $ 2,318,000
& let Current assets = x
So Current ratio = 0.65 = ( x / 2,318,000)
So x = 2,318,000 * 0.65 = $ 1,506,700.
So we have, Current Assets = $ 1506700
Add Answer to:
total assets 3,540,000. total equity 1222000. liabilities current.
current ratio .65. how much are xurrent assets.
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