Based on the following data, what is the current ratio, rounded to one decimal point? Accounts payable $30,000 Accounts receivable 60,000 Accrued liabilities 5,000 Cash 40,000 Intangible assets 50,000 Inventory 69,000 Long-term investments 80,000 Long-term liabilities 100,000 Marketable securities 30,000 Fixed assets 670,000 Prepaid expenses 1,000
Based on the following data, what is the current ratio, rounded to one decimal point? Accounts payable $30,000 Accounts receivable 60,000 Accrued liabilities 5,000 Cash 40,000 Intangible assets 50,000 Inventory 69,000 Long-term investments 80,000 Long-term liabilities 100,000 Marketable securities 30,000 Fixed assets 670,000 Prepaid expenses 1,000
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 6MCQ
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Transcribed Image Text:Based on the following data, what is the current ratio, rounded to one decimal point?
Accounts payable
$30,000
Accounts receivable
60,000
Accrued liabilities
5,000
Cash
40,000
Intangible assets
50,000
Inventory
69,000
Long-term investments
80,000
Long-term liabilities
100,000
Marketable securities
30,000
Fixed assets
670,000
Prepaid expenses
1,000
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