Compute ratios:working capital, current ratio, and acid-test
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Compute: Working capital_________
Current Ratio____________
Acid-test Ratio__________
Data:
Cash 125,000
Accounts receivable 98,000
Accrued Liablities 475,000
Notes payable, long term 75,000
Prepaid expenses 92,000
Wage Payable 225,000
Inventory 4,705,000
Marketable Securities 75,000
Salaries payable 50,000
Intangible Assets 500,000
Property, Plant, and Equipment 1,500,000
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Solution Summary
The solution explains how to calculate working capital, current ratio, and acid-test ratio.
Solution Preview
Total current assets = Cash + Accounts Receivable + Prepaid Expenses + Inventory + Marketable securities
Total current assets = 125,000+98,000+92,000+4,705,000+75,000 = ...
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