5. Jacob owns a restaurant called the Sleeping Diet. If you are sleeping, you are not...

 

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5. Jacob owns a restaurant called the Sleeping Diet. If you are sleeping, you are not eating. He wants to update the soothing nature scene paintings in the sleeping rooms. He asks for a bank loan of $200,000. What is Jacob's cash ratio? His balance sheet lists these items: Cash: $20,000 Cash equivalents: $4,000 Accounts payable: $10,000 Current taxes payable: $2,000 Current long-term liabilities: $20,000 Oa. 1.0 O b. -1.0 OC. 0.5 O d. 0.75 5. Jacob owns a restaurant called the Sleeping Diet. If you are sleeping, you are not eating. He wants to update the soothing nature scene paintings in the sleeping rooms. He asks for a bank loan of $200,000. What is Jacob's cash ratio? His balance sheet lists these items: Cash: $20,000 Cash equivalents: $4,000 Accounts payable: $10,000 Current taxes payable: $2,000 Current long-term liabilities: $20,000 Oa. 1.0 O b. -1.0 OC. 0.5 O d. 0.75

Answer rating: 100% (QA)

To calculate Jacobs cash ratio we sum up cash and cash equivalents and divide that by c... View the full answer