Use the information in the adjusted trial balance presented below to calculate the current ratio for Jones Company:

A)1.87.
B).54.
C)3.92.
D)1.77.
E)1.60.

Name: Use the information in the adjusted trial balance presented below to calculate the current ratio for Jones Company: A)1.87. B).54. C)3.92. D)1.77. E)1.60.
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Question

Use the information in the adjusted trial balance presented below to calculate the current ratio for Jones Company:

A)1.87. 
B).54. 
C)3.92. 
D)1.77. 
E)1.60.

Quizplus · Accepted Answer

Current Ratio = Current Assets/Current Liabilities
Current Ratio = ($23,000 + $16,000 + $6,600)/($17,000 + $2,400 + $5,000)
Current Ratio = $45,600/$24,400 = 1.87

Use the Information in the Adjusted Trial Balance Presented Below