ngmasuku3115
20.09.2020 •
Business
The current asset section of Stibbe Pharmaceutical Company’s balance sheet included cash of $34,000 and accounts receivable of $54,000. The only other current asset is inventory. The company’s current ratio is 2.5 and its acid-test ratio is 2.0. Determine the ending balance in inventory and total current liabilities.
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Ответ:
Ending balance in inventory= $22,000
Current liabilities= $88,000
Explanation:
The current assets section of stibblr pharmaceutical company included cash of $34,000 and accounts receivables of $54,000
The company's current ratio is 2.5
The acid test ratio is 2.0
Acid test ratio = cash + account receivables /current liabilities
2.0= ($34,000+$54,000)/current liabilities
2.0= 88,000/current liabilities
Current liabilities = 88,000/2
= $44,000
Current ratio= cash + account account receivables + inventory /current liabilities
2.5= $34,000+$54,000 + inventory/$44,000
2.5= $88,000+Inventory /44,000
2.5×44,000= 88,000 + inventory
110,000= 88,000 + Inventory
Inventory = $110,000-88,000
= $22,000
Hence the current liabilities is $88,000 and inventory is $22,000
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