The current asset section of Stibbe Pharmaceutical Company's balance sheet included cash of $35,000 and accounts...

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The current asset section of Stibbe Pharmaceutical Company's balance sheet included cash of $35,000 and accounts receivable of $55,000. The only other current asset is inventory. The company's current ratio is 2.3 and its acid-test ratio is 1.8. Determine the ending balance in inventory and total current liabilities. Inventory Current liabilities Use the following information from the balance sheet of Raineer Plumbing to determine the missing amounts. $ 55,000 $ 47,000 Cash and cash equivalents Retained earnings Accounts payable Accounts receivable 135,000 Notes payable (due in 2 years) 65,000 Inventory Common stock Property, plant and equipment (net) Total assets ? 550,000 180,000 Total current assetS 310,000 Inventory Property, plant, and equipment (net) Retained earnings The current asset section of Stibbe Pharmaceutical Company's balance sheet included cash of $35,000 and accounts receivable of $55,000. The only other current asset is inventory. The company's current ratio is 2.3 and its acid-test ratio is 1.8. Determine the ending balance in inventory and total current liabilities. Inventory Current liabilities Use the following information from the balance sheet of Raineer Plumbing to determine the missing amounts. $ 55,000 $ 47,000 Cash and cash equivalents Retained earnings Accounts payable Accounts receivable 135,000 Notes payable (due in 2 years) 65,000 Inventory Common stock Property, plant and equipment (net) Total assets ? 550,000 180,000 Total current assetS 310,000 Inventory Property, plant, and equipment (net) Retained earnings

Answer rating: 100% (QA)

Answer Step by Step Explanation Answer Particulars Amount in Total Current Assets 3100... View the full answer