Use the following data to calculate the current ratio. Cash and cash equivalents Accounts receivable Inventory Prepaid insurance Stock investments (noncurrent) Land Buildings Less: Accumulated depreciation Trademarks Total assets $230,000 $ 70,000 100,000 140,000 80,000 180,000 190,000 (60.000) 170,000 140.000 $1.070.000 A1 Auto Supplies Balance Sheet December 31, 2025 Accounts payable Salaries and wages payable Bonds 180.000 payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 130,000 20,000 330,000 240,000 500.000 740.000 $1.070.000

Use the following data to calculate the current ratio. Cash and cash equivalents Accounts receivable Inventory Prepaid insurance Stock investments (noncurrent) Land Buildings Less: Accumulated depreciation Trademarks Total assets $230,000 $ 70,000 100,000 140,000 80,000 180,000 190,000 (60.000) 170,000 140.000 $1.070.000 A1 Auto Supplies Balance Sheet December 31, 2025 Accounts payable Salaries and wages payable Bonds 180.000 payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 130,000 20,000 330,000 240,000 500.000 740.000 $1.070.000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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