Question: Crescent Co's current liabilities must be Crescent Co. has a current ratio of 4.8 and an acid-test ratio of 4.1. The company's current assets consist

Crescent Co's current liabilities must be

Crescent Co. has a current ratio of 4.8 and an acid-test ratio of 4.1. The company's current assets consist of cash, marketable securities, accounts receivable, and inventories. Inventory equals $10,500. Crescent Co.'s current liabilities must he ___.. a. $45,000 b. $15,000 ec. $20,000 d. $50,400

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Margie Frump is employed as a teacher. She occasionally purchases items that she uses in the course of her employment that are subject to depreciation. Assets held by Margie at 30 June 2021: Margie...

Zimmer, Inc. has provided its recent finaneial statements. The Controller has asked you to use this information to compute and interpret financial ratios that managers are going to use to assess...

help! Liquidity and Solvency Measures Your friend, another accountant, has bet you that with your knowledge of accounting and just the computations for common analytical measures, you can figure out...

Use the following to answer questions 64-67: At the end of January, the unadjusted trial balance of VIP, Inc., included the following accounts: Debit Credit Sales (80% represent credit sales)...

20 points 1 Following is the balance sheet of Rundle Company for Year 3: RUNDLE COMPANY Balance sheet $14,950 8,340 13,100 10,900 Assets 04.12.19 Cash Marketable securities Accounts receivable...

FINCH COMPANY Balance sheet Assets Cash $ 14,550 Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity...

FINCH COMPANY Balance sheet Assets Cash $15,350 Marketable securities Accounts receivable Inventory 7,700 13,220 11,300 Property and equipment 166,500 Accumulated depreciation (12,900) Total assets...

Table ! Smith Company Balance Sheet Assets: Cash and marketable securities Accounts receivable Inventories Prepaid expenses Total current assets Fixed assets Less: accumulated depreciation Net fixed...

please do all parts (Financial statement analysis) The T. P. Jarmon Company manufactures and sells a line of exclusive sportswear. The firm's sales were $600,000 for the year just ended, and its...

You have just been hired as a financial analyst for Lydex Company, a manufacturer of safety helmets. Your boss has asked you to perform a comprehensive analysis of the company's financial statements,...

1..With the Pfizer Inc. Financial Ratio Summary, you need to complete the Liquidity Ratios, Efficiency Ratios, Leverage Ratios, Profitability Ratios and Market Valuation Ratios for 2015-2019,...

A 1.5D-m string of weight 1.25 N is tied to the ceiling at its upper end, and the lower end supports a weight W. When you pluck the string slightly, the waves traveling up the string obey the...

One year consists of 365 days. This is closest to how many seconds? (Remember the following conversion factors: kilo (10), mega (106), giga (109), and tera 102.) Select the correct answer below: 32...

Griffin Corporation incurs a $22 per pound cost to produce Product X, which it then sells for $35 per pound. The company can further process Product X to produce Product Y. Product Y would sell for...

Eddie Industries issues $886,000 of 8% bonds at 103. The amount of cash received from the sale is a.$886,000 b.$912,580 c.$859,420 d.$956,880