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Question 50 2 pts Calculate the current ratio using the following information: (Round your answer to two decimals) Cash Accou
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Answer #1

Current assets = Cash + Accounts receivable + Prepaid rent

= 6,000+1,300+1,100

= $8,400

Current liabilities = Accounts payable + Salaries payable

= 5,000+1,000

= $6,000

Current ratio = Current assets/ Current liabilities

= 8,400/6,000

= 1.40

Correct option is A.

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