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Accounting: What the Numbers Mean 9th Edition by Wayne W McManus, Daniel F Viele, David H Marshall
Edition 9ISBN: 0073527068Accounting: What the Numbers Mean 9th Edition by Wayne W McManus, Daniel F Viele, David H Marshall
Edition 9ISBN: 0073527068 Exercise 34
Step-by-step solution
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Step 1 of 3
a. Working capital = Current assets - Current liabilities | 1/31/11 | 1/31/10 |
Current assets | $ 14 | $ 18 |
- Current liabilities | (9) | (6) |
= Working capital | $ 5 | $ 12 |
Current ratio = Current assets / Current liabilities | 1/31/11 | 1/31/10 |
Current assets | $ 14 | $ 18 |
/ Current liabilities | 9 | 6 |
= Current ratio | 3.00 | 1.56 |
Step 2 of 3
Step 3 of 3
Accounting: What the Numbers Mean 9th Edition by Wayne W McManus, Daniel F Viele, David H Marshall
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