Kirsten Company presented the following data at the end of 2019:
Determine the current ratio for Kirsten Company (rounded).
A) 4.41
B) 4.23
C) 2.57
D) 2.38

Name: Kirsten Company presented the following data at the end of 2019: Determine the current ratio for Kirsten Company (rounded). A) 4.41 B) 4.23 C) 2.57 D) 2.38
Brand: Quizplus
Rating: 4.8 (37 reviews)

Question

Kirsten Company presented the following data at the end of 2019:
 Determine the current ratio for Kirsten Company (rounded).
A) 4.41 
B) 4.23 
C) 2.57 
D) 2.38

Quizplus · Accepted Answer

Current ratio = Current assets / Current liabilities
X = ($1,800,000 + $3,200,000 + $2,800,000 + $300,000) / ($750,000 + $800,000 + $1,600,000)
X = $8,100,000 / $ 3,150,000
X = 2.57

Kirsten Company Presented the Following Data at the End of 2019