8. B Company provided the balance sheet below: Cash225 Accounts payable150Accounts receivable600 Accruals250Inventory475 Notes payable425Current assets1,300 Current liabilities825Net fixed assets1,000 Long-term debt625 Common equity325 Retained earnings525Total assets2,300 Total liab. & equity2300 Compute for the Acid-test ratio. (2 decimal places)

Accounts payables are the liabilities which arises due to credit purchases from the suppliers. The…

Answered: B Company provided the balance sheet…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 30BEB: Klynveld Companys balance sheet shows total liabilities of 94,000,000, total stockholders equity of...

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8. B Company provided the balance sheet below:

Cash	225	Accounts payable	150
Accounts receivable	600	Accruals	250
Inventory	475	Notes payable	425
Current assets	1,300	Current liabilities	825
Net fixed assets	1,000	Long-term debt	625
		Common equity	325
		Retained earnings	525
Total assets	2,300	Total liab. & equity	2300

Compute for the Acid-test ratio. (2 decimal places)

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