Chapter 15.III, Problem 3RE

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8th Edition

Robert Brechner + 1 other

ISBN: 9781305585447

Textbook Problem

Calculate the amount of working capital and the current ratio for the following companies. Round ratios to the nearest hundredth.

Current |
Current |
Working |
Current |
|||||||

Company |
Assets |
Liabilities |
Capital |
Ratio |
||||||

3. | Thunderbird Electronics, Inc. | $14,540 | $19,700 | ______ | ________ |

To determine

**To calculate:** The amount of working capital and the current ratio of the company Thunderbird Electronics Inc. which has current assets of

Explanation

**Given Information:**

The company Thunderbird Electronics Inc. has current assets of

**Formula used:**

The formula for the working capital is,

The formula for the current ratio is,

**Calculation:**

Consider that Thunderbird Electronics Inc. has current assets of

Compute the working capital by substituting

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