The following data are taken from the financial statements of Keanan Company as of the end...
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The following data are taken from the financial statements of Keanan Company as of the end of the year 2017. The data are in alphabetical order (10 Marks) Accounts Payable. $28,000 48,000 Accounts Receivable 66.000 8,600 Cash 54,000 250,000 Other current liabilities... 17,000 200,000 Prepaid Insurance 2,000 5,000 Short term Investments..... 20,000 5,000 Instructions: Calculate Keanan Company's working capital current ratio, and acid-test ratio Show numbers for calculations. a. Working Capital a. Current Ratio: Profit Supplies Total assets.. Total liabilities. Wages payable Unearned Revenue The following data are taken from the financial statements of Keanan Company as of the end of the year 2017. The data are in alphabetical order (10 Marks) Accounts Payable. $28,000 48,000 Accounts Receivable 66.000 8,600 Cash 54,000 250,000 Other current liabilities... 17,000 200,000 Prepaid Insurance 2,000 5,000 Short term Investments..... 20,000 5,000 Instructions: Calculate Keanan Company's working capital current ratio, and acid-test ratio Show numbers for calculations. a. Working Capital a. Current Ratio: Profit Supplies Total assets.. Total liabilities. Wages payable Unearned Revenue
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Related Book For
Accounting Principles
ISBN: 978-1119048473
7th Canadian Edition Volume 2
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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