Using the balance sheet what is the current ratio?BALANCE SHEET($ in millions) ASSETS LIABILITIES Cash & Marketable Securities 449.90 Accounts Payable 1,611.20 Accounts Receivable 954.80 Salaries Payable 225.20 Inventories 3,645.20 Other Current Liabilities 1,118.80 Other Current Assets 116.60 Total Current Liabilities 2,955.20 Total Current Assets 5,166.50 Other Liabilities 693.40 Machinery & Equipment 1,688.90 Land 1,129.70 Total Liabilities 3,648.60 Buildings 2,348.40 Depreciation (575.60) SHAREHOLDER'S EQUITY Property, Plant & Equip. - Net 4,591.40 Common Stock 828.50 Other Long Term Assets 120.90 Retained Earnings 5,401.70 Total Long-Term Assets 4,712.30 Total Shareholder's Equity 6,230.20 Total Assets 9,878.80 Total Liabilities & Equity 9,878.80

Name: Using the balance sheet what is the current ratio?BALANCE SHEET($ in m
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Description: Using the balance sheet what is the current ratio?BALANCE SHEET($ in millions) ASSETS LIABILITIES Cash & Marketable Securities 449.90 Accounts Payable 1,611.20 Accounts Receivable 954.80 Salaries Payable 225.20 Inventories 3,645.20 Other Curre

In the given problem we need to compute the current ratio using given balance sheet.

Answered: Using the balance sheet what is the…

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter3: The Basics Of Record Keeping And Financial Statement Preparation: Income Statement

Section: Chapter Questions

Problem 20P

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Using the balance sheet what is the current ratio?

BALANCE SHEET
($ in millions)

ASSETS		LIABILITIES
Cash & Marketable Securities	449.90	Accounts Payable	1,611.20
Accounts Receivable	954.80	Salaries Payable	225.20
Inventories	3,645.20	Other Current Liabilities	1,118.80
Other Current Assets	116.60	Total Current Liabilities	2,955.20
Total Current Assets	5,166.50
		Other Liabilities	693.40
Machinery & Equipment	1,688.90
Land	1,129.70	Total Liabilities	3,648.60
Buildings	2,348.40
Depreciation	(575.60)	SHAREHOLDER'S EQUITY
Property, Plant & Equip. - Net	4,591.40	Common Stock	828.50
Other Long Term Assets	120.90	Retained Earnings	5,401.70
Total Long-Term Assets	4,712.30	Total Shareholder's Equity	6,230.20

Total Assets	9,878.80	Total Liabilities & Equity	9,878.80

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