The following data extracted from a balance sheet ($ in thousands) for Paisano Seafood Inc. is shown
Fantastic news! We've Found the answer you've been seeking!
Question:
- The following data extracted from a balance sheet ($ in thousands) for Paisano Seafood Inc. is shown below.
- Cash $ 78
- Accounts payable $239
- Accounts receivable (net) 188
- Other liabilities 77
- Notes receivable 62
- Total current liabilities 316
- Inventories 215
- Long-term liabilities 90
- Prepaid expenses 31
- Total liabilities 406
- Total current assets 574
- Stockholders' equity:
- Assets of plant (net) 262
- Capital stock 132
- Retained earnings 298
- Total shareholders' equity 430
- Total assets $836
- Total liabilities and equity $836
- Consider notes receivable as liquid assets.
- Calculate ratio of the acid test.
Related Book For
Posted Date: