Show solution 7. AHR Company has provided the following data: Inventory and prepaid expenses, P35,000, Current ratio, 2.2,Acid-test ratio 1.5. AHR Company's current liabilities were:A. P40,000B. PS0,000C P63,000D. P44,1008 ESS Company's current llablitiles are P50,000, its long-term liabilities are P150,000, and its working capital isP80,000. If ESS Company's debt-to-equity ratio is 0.32, its total long-term assets must equal:A. P625,000P745,000P825,000P695,000B.D.

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7. AHR Company has provided the following data: Inventory and prepaid expenses, P35,000, Current ratio, 2.2, Acid-test ratio 1.5. AHR Company's current liabilities were: A. P40,000 P50,000 B. C P63,000 D. P44,100

7. AHR Company has provided the following data: Inventory and prepaid expenses, P35,000, Current ratio, 2.2, Acid-test ratio 1.5. AHR Company's current liabilities were: A. P40,000 P50,000 B. C P63,000 D. P44,100

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter18: Accounting Periods And Methods

Section: Chapter Questions

Problem 67P

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7. AHR Company has provided the following data: Inventory and prepaid expenses, P35,000, Current ratio, 2.2,
Acid-test ratio 1.5. AHR Company's current liabilities were:
A. P40,000
B. PS0,000
C P63,000
D. P44,100
8 ESS Company's current llablitiles are P50,000, its long-term liabilities are P150,000, and its working capital is
P80,000. If ESS Company's debt-to-equity ratio is 0.32, its total long-term assets must equal:
A. P625,000
P745,000
P825,000
P695,000
B.
D.

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