The following information relates to the balance sheet of XYZ company on December 31, 2017. Current
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Question:
- The following information relates to the balance sheet of XYZ company on December 31, 2017.
- • Current ratio 2:1 (2 by 1) Payable turnover 3 times Fixed asset turnover 4 times
- • Cash $15,000
- • Account receivable $40,000 Accounts Payable is the only current liability Fixed asset for XYZ company will be equal to:
- a) 162,000
- b) 90,000
- c) 17,000
- d) 72,000
Related Book For
Advanced Accounting
ISBN: 978-0538480284
11th edition
Authors: Paul M. Fischer, William J. Tayler, Rita H. Cheng
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