   Chapter 15.III, Problem 3RE ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

#### Solutions

Chapter
Section ### Contemporary Mathematics for Busin...

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 $14,540 and current liabilities of 19,700. Round the ratios to the nearest hundredth. Explanation Given Information: The company Thunderbird Electronics Inc. has current assets of$14,540 and current liabilities $19,700. Formula used: The formula for the working capital is, Working capital=Current AssetsCurrent liabilities The formula for the current ratio is, Current ratio=Current assetsCurrent liabilities Calculation: Consider that Thunderbird Electronics Inc. has current assets of$14,540 and current liabilities $19,700. Compute the working capital by substituting$14,540 for current assets, and 19,700 for current liabilities in the formula, “Working capital=Current AssetsCurrent liabilities

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