The current asset section of the Excalibur Tire Company’s balance sheet consists of cash, marketable securities, accounts receivable, and inventories. The December 31, 2016, balance sheet revealed the following: Inventories$840,000 Total assets$2,800,000 Current ratio2.25 Acid-test ratio1.2 Debt to equity ratio1.8Required:Determine the following 2016 balance sheet items:Current AssetsShareholders Equitynon current Assestslong term liabilitites
The current asset section of the Excalibur Tire Company’s balance sheet consists of cash, marketable securities, accounts receivable, and inventories. The December 31, 2016, balance sheet revealed the following: Inventories$840,000 Total assets$2,800,000 Current ratio2.25 Acid-test ratio1.2 Debt to equity ratio1.8Required:Determine the following 2016 balance sheet items:Current AssetsShareholders Equitynon current Assestslong term liabilitites
The current asset section of the Excalibur Tire Company’s balance sheet consists of cash, marketable securities, accounts receivable, and inventories. The December 31, 2016, balance sheet revealed the following: Inventories$840,000 Total assets$2,800,000 Current ratio2.25 Acid-test ratio1.2 Debt to equity ratio1.8Required:Determine the following 2016 balance sheet items:Current AssetsShareholders Equitynon current Assestslong term liabilitites
The current asset section of the Excalibur Tire Company’s balance sheet consists of cash, marketable securities, accounts receivable, and inventories. The December 31, 2016, balance sheet revealed the following: Inventories$840,000 Total assets$2,800,000 Current ratio2.25 Acid-test ratio1.2 Debt to equity ratio1.8Required:Determine the following 2016 balance sheet items:Current AssetsShareholders Equitynon current Assestslong term liabilitites
