Some selected financial statement items belonging to Fanar Company are given in the table below. According to this information, which of the following is the Current Ratio?Inventory 13,500Current Assets 63,000Current Liabilities 36,000Non-current Assets 85,000Net Profit 14,000Shareholders' Equity 68,000Select one:a. 1.79b. 1.09c. 1.75d. 1.35Clear my choice2)Nizwa Company prepares its budget for January-April period. On 1 January, the cash available is 15000 OMR. The financial information is given in the table below. Sales Purchases ExpensesDecember 72000 45000 7000January 85000 53000 9000February 90000 54000 6000March 95000 65000 11000April 105000 75000 13000Additional Information:(a) Period of credit allowed by suppliers is one month(b) 30 % of sale is for cash and the period of credit allowed to customer for credit sale one month.(c) The period allowed in payment of expenses is one month.Which of the following is the total of cash balances at the end of February and March? Select one:a. 158300b. 95600c. 131300d. 184100

Definition: Current Assets: Assets which are to converted into cash within a year are known as…

Answered: Current Ratio

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter17: Financial Statement Analysis

Section: Chapter Questions

Problem 4AP

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Some selected financial statement items belonging to Fanar Company are given in the table below. According to this information, which of the following is the Current Ratio?

Inventory	13,500
Current Assets	63,000
Current Liabilities	36,000
Non-current Assets	85,000
Net Profit	14,000
Shareholders' Equity	68,000

Select one:

a. 1.79

b. 1.09

c. 1.75

d. 1.35

Clear my choice

Nizwa Company prepares its budget for January-April period. On 1 January, the cash available is 15000 OMR. The financial information is given in the table below.

	Sales	Purchases	Expenses
December	72000	45000	7000
January	85000	53000	9000
February	90000	54000	6000
March	95000	65000	11000
April	105000	75000	13000

Additional Information:

(a) Period of credit allowed by suppliers is one month

(b) 30 % of sale is for cash and the period of credit allowed to customer for credit sale one month.

Which of the following is the total of cash balances at the end of February and March?

Select one:

a. 158300

b. 95600

c. 131300

d. 184100

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