Selected condensed data taken from a recent balance sheet of Kutenai Luau, Inc., are as follows: KUTENAI
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Selected condensed data taken from a recent balance sheet of Kutenai Luau, Inc., are as follows:
KUTENAI LUAU, INC.
Balance Sheet (partial)
Cash ................... $ 8,041,000
Short-term investments ............. 1,947,000
Accounts receivable ............. 12,545,000
Inventories ................ 14,814,000
Other current assets .............. 5,571,000
Total current assets .............$42,918,000
Total current liabilities ...........$40,644,000
What are the
(a) Working capital,
(b) Current ratio, and
(c) acid-test ratio?
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Related Book For
Hospitality Financial Accounting
ISBN: 978-0470083604
2nd Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Agnes L.
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