Killua Corporation’s Statement of Financial Positions at December 31, 2021, shows the following: (check the attached photo)Determine the following: net working capital; current ratio; andquick ratio. Current assetsCashP4,000Marketable securities8,000Accounts receivable100,000Inventories120,000Prepaid expenses1,000Total current assetsP233.000Current liabilitiesNotes payableP5,000Accounts payableAccrued expensesIncome taxes payable150,00020,0001,000Total current liabilitiesP176,000Long-term liabilitiesP340,000

Name: Killua Corporation’s Statement of Financial Positions at December 31,
Uploaded: 2022-11-18T00:26:54.000Z
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Description: Killua Corporation’s Statement of Financial Positions at December 31, 2021, shows the following: (check the attached photo)Determine the following: net working capital; current ratio; andquick ratio. Current assetsCashP4,000Marketable securities8,000

Quick assets=Total current assets-Inventory-Prepaid expenses=P 233,000-P 120,000-P 1,000=P 112,000

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Killua Corporation’s Statement of Financial Positions at December 31, 2021, shows the following: (check the attached photo) Determine the following: net working capital; current ratio; and quick ratio.

Killua Corporation’s Statement of Financial Positions at December 31, 2021, shows the following: (check the attached photo) Determine the following: net working capital; current ratio; and quick ratio.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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