Homework Answers
rate posiitvely ..
| Ans 1 | ||||
| Account receivable | 3000 | |||
| Cash | 5000 | |||
| Inventory | 19000 | |||
| Total current asset | 27000 | |||
| Ans 2 | ||||
| Notes payable | 5000 | |||
| Account payable | 2000 | |||
| Total current liabilities | 7000 | |||
| Ans 3 | Working capital = | 20000 | ||
| Current asset - Current liabilities | ||||
| Ans 4 | Current ratio = | 3.86 | ||
| Current asset / Current liabilities | ||||
| Ans 5 | Quick ratio = | 1.14 | ||
| (Current asset- Inventory)/Current liabilties |
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