The financial statements of clearwater furniture company include the following items:
20172016
cash$63,500$51,000
short-term investments28,00017,000
net accounts receivable 94,000106,000
merchandise inventory157,000143,000
total assets531,000544,000
total current liabilities234,000217,000
long-term note payable 62,00052,000
what is 2017 cash ratio? (round your answer to two decimal places)
a. 0.21
b. 0.12
c. 0.39
d. 0.27
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Ответ:
c. 0.39
Explanation:
The formula to compute the 2017 cash ratio is shown below:
= (Cash + Short-term Investments) ÷ (Total Current Liabilities)
= (63,500 + $51,000) ÷ (234,000)
= ($114,500) ÷ (234,000)
= 0.39
It shows a ratio between cash + cash equivalent and the current liabilities.
The other information which is given in the question is not relevant. Hence, ignored it
Ответ:
2+2=4
Step-by-step explanation: