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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 43
Step-by-step solution
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Step 1 of 2
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a.?Working capital = current assets - current liabilities = $280,000 - $160,000 = $120,000
Current ratio = current assets / current liabilities = 280,000 / $160,000 = 1.75
= ($32,000 + $58,000 + $86,000) / $160,000 = 1.1
Step 2 of 2
Accounting: What the Numbers Mean 9th Edition by Wayne W McManus, Daniel F Viele, David H Marshall
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