Question

The following items are taken from the balance sheet of Minshew Company:
Cash ................ $ 126,000
Accounts Receivable (net) ........ 378,000
Merchandise Inventory .......... 123,000
Supplies ................ 500
Prepaid Expenses ........... 3,350
Accounts Payable ........... 175,700
Notes Payable (current) ........... 18,500
Salaries Payable ............ 3,800
Compute the following:
a. Working capital
b. Current ratio
c. Quick ratio



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  • CreatedOctober 21, 2014
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