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Sando Company Statements of Financial Position December 31,2012 and 2011 2012 Assets Cash $ 43,000 .......... Accounts receivable... 38,000 ..... ............ Merchandise inventory 61,000 ...... Prepaid insurance.... 6,000 ......... Long-term investments.... 49,000 .... Property, plant and equipment (net). 218,000 $415,000 Total assets. . Liabilities and Equity Current liabilities. . $62,000 45,000 Long-term liabilities.. Share capital... Retained earnings. . .... 150,000 158,000 $415,000 Total liabilities and equity...

Sando Company Statements of Financial Position December 31,2012 and 2011 2012 Assets Cash $ 43,000 .......... Accounts receivable... 38,000 ..... ............ Merchandise inventory 61,000 ...... Prepaid insurance.... 6,000 ......... Long-term investments.... 49,000 .... Property, plant and equipment (net). 218,000 $415,000 Total assets. . Liabilities and Equity Current liabilities. . $62,000 45,000 Long-term liabilities.. Share capital... Retained earnings. . .... 150,000 158,000 $415,000 Total liabilities and equity...

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
Problem 9.4.10P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...
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Calculate current ratio for the following financial statement.

Sando Company Statements of Financial Position December 31,2012 and 2011 2012 Assets Cash $ 43,000 $2 Accounts receivable..... 38,000 ... Merchandise inventory 61,000 ....... Prepaid insurance... 6,000 Long-term investments..... 49,000 ..... Property, plant and equipment (net . 218,000 .... $415,000 Total assets. . Liabilities and Equity Current liabilities.... $ 62,000 45,000 Long-term liabilities.... 150,000 Share capital. . 158,000 Retained earnings.. $415,000 Total liabilities and equity..
Transcribed Image Text:Sando Company Statements of Financial Position December 31,2012 and 2011 2012 Assets Cash $ 43,000 $2 Accounts receivable..... 38,000 ... Merchandise inventory 61,000 ....... Prepaid insurance... 6,000 Long-term investments..... 49,000 ..... Property, plant and equipment (net . 218,000 .... $415,000 Total assets. . Liabilities and Equity Current liabilities.... $ 62,000 45,000 Long-term liabilities.... 150,000 Share capital. . 158,000 Retained earnings.. $415,000 Total liabilities and equity..
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