Homework Answers
Answer: D. 2.86
.
.
Total current assets
= Cash + Accounts receivable + Office supplies
= $300 + $1,000 + $700
= $2,000
.
Total current liabilities
= Accounts payable + Salaries payable
= $600 + $100
= $700
.
Current ratio
= Current assets / Current liabilities
= $2,000 / $700
= 2.857142…..
= = 2.86 -->rounded to 2 decimal places
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