Using the following year-end data for Calvin's Clothing, Inc., Cash $52,000 Short-term investments 12,000 Accounts receivable 54,000

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Using the following year-end data for Calvin's Clothing, Inc.,

Cash $52,000

Short-term investments 12,000

Accounts receivable 54,000

Inventory 325,000

Prepaid expenses 17,500

Accounts payable 106,500

Other current accounts payable 25,000

Calculate the current ratio and acid test ratio for the business

Related Book For answer-question

Managerial Accounting

ISBN: 978-0697789938

13th Edition

Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer

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Posted Date: May 10, 2023 07:41 AM

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Using the following year-end data for Calvin's Clothing, Inc., Cash $52,000 Short-term investments 12,000 Accounts receivable 54,000

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Managerial Accounting

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