Based on the following information from Schrute Company's balance sheet, calculate the current ratio. Current assets $147,000 62,000 Plant assets 450,000 Current liabilities 59,000 Long-term liabilities 110,000 A. Schrute, Capital 490,000 Investments 0.40. 3.54. 2.49. 1.24. 3.90.

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
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Chapter12: Current Liabilities
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Problem 3MC: The following is selected financial data from Block Industries: How much does Block Industries have...
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Based on the following information from Schrute Company's balance sheet, calculate the
current ratio.
Current assets
$ 147,000
62,000
Plant assets
450,000
Current liabilities
59,000
Long-term liabilities 110,000
A. Schrute, Capital 490,000
Investments
0.40.
3.54.
2.49.
1.24.
3.90.
Transcribed Image Text:Based on the following information from Schrute Company's balance sheet, calculate the current ratio. Current assets $ 147,000 62,000 Plant assets 450,000 Current liabilities 59,000 Long-term liabilities 110,000 A. Schrute, Capital 490,000 Investments 0.40. 3.54. 2.49. 1.24. 3.90.
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