Using the following year-end information for Calvin's Clothing, calculate the current ratio and acid-test ratio for the business:

Cash$52,000

Short-term investments 12,000

Accounts receivable 54,000

Inventory 325,000

Prepaid expenses 17,500

Accounts payable 106,500

Other current payables 25,000

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franciscoclaudio1980 franciscoclaudio1980

04-12-2022
Mathematics

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Using the following year-end information for Calvin's Clothing, calculate the current ratio and acid-test ratio for the business:

Cash$52,000

Short-term investments 12,000

Accounts receivable 54,000

Inventory 325,000

Prepaid expenses 17,500

Accounts payable 106,500

Other current payables 25,000

Sagot :

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