The current asset section of food truck Wok n’ Roll’s balance sheet included cash of $30,000 and accounts receivable of $45,000. The only other current asset is inventories. The company’s current ratio is 2.5 and its acid-test ratio is 2.0. Determine the ending balance in inventories and total current liabilities.

Answer rating: 100% (QA)

To determine the ending balance in inventories and total current liabilities for Wok n Roll we can use the information provided about the current rati... View the full answer