Kirsten Company presented the following data at the end of 2019: Cash $2,800,000 Accounts receivable $4,200,000 Merchandise
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Question:
Kirsten Company presented the following data at the end of 2019:
Cash $2,800,000
Accounts receivable $4,200,000
Merchandise inventory $1,800,000
Prepaid insurance $350,000
Property & equipment $8,500,000
Accounts payable $760,000
Unearned revenue $850,000
Wages payable $1,650,000
Bonds payable $4,050,000
Determine the current ratio for Kirsten Company
Expert Answer:
To calculate the current ratio we need to divide current assets by current liabilities Cur... View the full answer
Related Book For 
Financial Reporting and Analysis Using Financial Accounting Information
ISBN: 978-1439080603
12th Edition
Authors: Charles H Gibson
Posted Date:
