Use the following data to calculate the current ratio. Wildhorse Co. Balance Sheet December 31, 2022...
Use the following data to calculate the current ratio. Wildhorse Co. Balance Sheet December 31, 2022 Cash and cash equivalents $69000 Accounts payable $125500 Accounts receivable 95500 Salaries and wages payable 19500 Inventory 135500 Bonds payable 157000 Prepaid insurance 83500 Total liabilities $302000 Stock investments 187000 Land 190000 Buildings $207500 Common stock $187500 Less: Accumulated depreciation (65500) 142000 Retained earnings 515000 Trademarks 102000 Total stockholders' equity $702500 Total assets $1004500 Total liabilities and stockholders' equity $1004500
a)3.04 : 1
b)2.64 : 1
c)2.11 : 1
d)1.71 : 1
Homework Answers
Current ratio=Current assets/Current liabilities
=(Cash and cash equivalents+Accounts receivable+inventory+prepaid insurance)/(AP+Salaries and wages payable)
=(69000+95500+135500+83500)/(125500+19500)
=383500/145000
=2.64 : 1(Approx)
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Use the following data to calculate the current ratio. Wildhorse
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