Question 1 (1 point) BB&T Supply, Inc. has Cash of $1,000, Accounts Receivable $9,000, Office Supplies...

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Question 1 (1 point) BB&T Supply, Inc. has Cash of $1,000, Accounts Receivable $9,000, Office Supplies of $500, Land of $50,000 and Buildings of $100,000. They owe $6,000 of Accounts Payable, $1500 of Salaries Payable, and $75,000 of Long-term Notes Payable. What is the company's current ratio (round to two decimals including zeros if needed)? Your Answer: Answer Question 2 (1 point) ABC Company had Net Sales Revenue of $90,000, Cost of Goods Sold totaled $40,000, and Operating Expenses of $22,000. What was ABC's Gross Profit percentage for this period? Type your answer in percentage form (leaving off the % sign) and round to two decimal places, including zeros if needed. Your Answer: Question 1 (1 point) BB&T Supply, Inc. has Cash of $1,000, Accounts Receivable $9,000, Office Supplies of $500, Land of $50,000 and Buildings of $100,000. They owe $6,000 of Accounts Payable, $1500 of Salaries Payable, and $75,000 of Long-term Notes Payable. What is the company's current ratio (round to two decimals including zeros if needed)? Your Answer: Answer Question 2 (1 point) ABC Company had Net Sales Revenue of $90,000, Cost of Goods Sold totaled $40,000, and Operating Expenses of $22,000. What was ABC's Gross Profit percentage for this period? Type your answer in percentage form (leaving off the % sign) and round to two decimal places, including zeros if needed. Your Answer:

Answer rating: 100% (QA)

Question 1 To calculate the current ratio we need to divide the companys current assets by its curre... View the full answer