Compute Darling Company's current ratio using the following information:
$$\begin{array} { | l | l | l | l | }
\hline \text { Accounts receivable } & \$ 20,000 & \text { Long-term notes payable } & \$ 80,000 \
\hline \text { Salaries payable } & 5,000 & \text { Building } & 170,000 \
\hline \text { Prepaid Rent } & 7,000 & \text { Accounts payable } & 15,000 \
\hline \text { Cash } & 12,000 & \text { Land } & 75,000 \
\hline
\end{array}$$

Question

Compute Darling Company's current ratio using the following information:
 $$\begin{array} { | l | l | l | l | } 
\hline \text { Accounts receivable } & \$ 20,000 & \text { Long-term notes payable } & \$ 80,000 \
\hline \text { Salaries payable } & 5,000 & \text { Building } & 170,000 \
\hline \text { Prepaid Rent } & 7,000 & \text { Accounts payable } & 15,000 \
\hline \text { Cash } & 12,000 & \text { Land } & 75,000 \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of Compute Darling Company's current ratio using the following information:
 $$\begin{array} { | l | l | l | l | } 
\hline \text { Accounts receivable } & \$ 20,000 & \text { Long-term notes payable } & \$ 80,000 \
\hline \text { Salaries payable } & 5,000 & \text { Building } & 170,000 \
\hline \text { Prepaid Rent } & 7,000 & \text { Accounts payable } & 15,000 \
\hline \text { Cash } & 12,000 & \text { Land } & 75,000 \
\hline
\end{array}$$

Compute Darling Company's Current Ratio Using the Following Information