Homework Answers
ANSWER
Option (D)=2.22
Current ratio = (Cash + Accounts receivable + Prepaid insurance) / (Accounts payable + Interest payable + Unearned revenue)
= $(50,000 + 25,000 + 10,200) / $(26,000 + 4,650 + 7,700)
= $85,200/ $38,350
= 2.22
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