For Gee-Whiz Devices calculate the following: working capital, current ratio, and acid-test ratio.Gee-Whiz Devices Balance Sheet Data

Question:

Cash $100,000

Market securities 45,000

Net accounts and notes receivable 150,000

Retailers' inventories 200,000

Prepaid expenses 8,000

Accounts and notes payable 315,000

(short term)

Accumulated liabilities to date 90,000

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...