Business, 16.10.2020 01:01 izzy201995

Use the following data to calculate the current ratio. Koonce Office Supplies Balance Sheet December 31, 2014 Cash $130,000 Accounts payable $100,000
Accounts receivable $100,000 Salaries and wages payable $20,000
Inventory $110,000 Mortgage payable 160,000
Prepaid insurance $60,000 Total liabilities 320000
Stock investments $170,000 Common stock $240,000
Land 180000 Retained earnings $500,000
Buildings 210000 Total stockholders' equity 740000
Less: Accumulated depreciation ($40,000) Total liability and 1.060,000
$170,000 stockholder equity
Trademarks $140,000
Total assets $1.060,000
a. 2.50:1
b. 2.13:1
c. 1.44:1
d. 2.86:1

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Use the following data to calculate the current ratio. Koonce Office Supplies Balance Sheet December...