34) Fill in Correct answer: The financial statements of Trenton Office Supply include the following items: 2019 2018 Cash $51,500 $45,000 Short-term Investments 26,000 13,000 Net Accounts Receivable 94,000 100,000 Merchandise Inventory 135,000 126,000 Total Assets 534,000 550,000 Total Current Liabilities 260,000 235,000 Long-term Note Payable 57,000 50,000 What is the 2019 current ratio? (Round your answer to two decimal places.)
34) Fill in Correct answer: The financial statements of Trenton Office Supply include the following items: 2019 2018 Cash $51,500 $45,000 Short-term Investments 26,000 13,000 Net Accounts Receivable 94,000 100,000 Merchandise Inventory 135,000 126,000 Total Assets 534,000 550,000 Total Current Liabilities 260,000 235,000 Long-term Note Payable 57,000 50,000 What is the 2019 current ratio? (Round your answer to two decimal places.)
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 10EB: Starlight Enterprises has net credit sales for 2019 in the amount of $2,600,325, beginning accounts...
Question
AI-Generated Solution
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
Unlock instant AI solutions
Tap the button
to generate a solution
Recommended textbooks for you
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning