The top management of Pratt Marketing Services examines the following company accounting records at August 29, immediately
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Total current assets ..................... $ 324,700
Noncurrent assets........................ 1,067,500
$1,392,200
Total current liabilities ................ $ 193,400
Noncurrent liabilities .................. 253,400
Owner’s equity............................ 945,400
$1,392,200
Suppose Pratt’s management wants to achieve a current ratio of 2.25. How much in current liabilities should Pratt’s pay off within the next two days in order to achieve its goal?
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Related Book For
Financial accounting
ISBN: 978-0136108863
8th Edition
Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas
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