Current Liabilities and Ratios
Listed below are several accounts that appeared on Queen’s 2007 balance sheet.
Accounts Payable
$ 78,900
Equipment
$ 930,000
Marketable Securities
85,800
Taxes Payable
24,200
Accounts Receivable
318,000
Retained Earnings
359,100
Notes Payable, 12%, due in 60 days
37,000
Inventory
191,400
Capital Stock
1,650,000
Allowance for Doubtful Accounts
34,100
Salaries Payable
20,900
Land 580,000
Cash 99,000
--------------------------------------------------------------------------------
1. What is the amount of total current liabilities that would appear on Queen's 2007 balance sheet? $
2. Compute Queen’s working capital.
3. Compute Queen’s current ratio. Round to one decimal place.
: 1
I need all three answers! Thanks!
2007-11-09
05:52:58
·
4 answers
·
asked by
mr.paulio
2