Selected condensed data taken from a recent statement of financial position of Morino Ltd. are as follows.
Question:
Selected condensed data taken from a recent statement of financial position of Morino Ltd. are as follows.
MORINO LTD.
Statement of Financial Position (partial)
Other current assets ................................... £ 6,271,000
Inventory ........................................................ 14,814,000
Accounts receivable .................................... 12,545,000
Short-term investments ................................. 4,947,000
Cash .................................................................... 8,113,000
Total current assets ................................. £46,690,000
Total current liabilities .............................. £41,200,000
What are the
(a) Working capital,
(b) Current ratio, and
(c) Acid-test ratio?
Step by Step Answer:
a Working capital Current assets Current liab...View the full answer
Financial Accounting
ISBN: 978-1118978085
IFRS 3rd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
