Selected data for Austin Company follow: Current assets..... $50,000 Current liabilities......... $40,000 Capital assets...... 70,000 Long-term liabilities...
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Selected data for Austin Company follow:
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Current assets..... $50,000 Current liabilities......... $40,000 Capital assets...... 70,000 Long-term liabilities... 35,000 Total revenues.... 30,000 Total expenses........ 20,000 Based on these facts, what are Austin's ratios? Current ratio a. 2 to 1 b. 0.83 to 1 c. 1.25 to 1 d. 2 to 1 Debt ratio 0.5 to 1 0.5 to 1 0.625 to 1 0.633 to 1
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Related Book For
Financial Accounting
ISBN: 9780135433065
7th Canadian Edition
Authors: Walter Harrison, Wendy Tietz, C. Thomas, Greg Berberich, Catherine Seguin
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