Current Liabilities and Ratios Several accounts that appeared on Atunlu's 2017 balance sheet are
as follows:
Accounts Payable $65,000 Equipment $950,000
Marketable Securities 40,000 Taxes Payable 15,000
Accounts Receivable 14,000 Retained Earnings 250,000
Notes Payable, 12%, due in 60 days 20,000 Inventory 165,000
Capital Stock 1,150,000 Allowance for Doubtful Accounts 20,000
Salaries Payable 10,000 Land 600,000
Cash 65,000
1. Compute Atunlu's working capital.
2. Compute Atunlu's current ratio. Round your answer to one decimal place.
What does this ratio indicate about Atunlus condition? It seems that Atunlu has _________ current
assets to meet its short-term obligations..
Current Liabilities and Ratios Several accounts that appeare.pdf
1. Current Liabilities and Ratios Several accounts that appeared on Atunlu's 2017 balance sheet are
as follows:
Accounts Payable $65,000 Equipment $950,000
Marketable Securities 40,000 Taxes Payable 15,000
Accounts Receivable 14,000 Retained Earnings 250,000
Notes Payable, 12%, due in 60 days 20,000 Inventory 165,000
Capital Stock 1,150,000 Allowance for Doubtful Accounts 20,000
Salaries Payable 10,000 Land 600,000
Cash 65,000
1. Compute Atunlu's working capital.
2. Compute Atunlu's current ratio. Round your answer to one decimal place.
What does this ratio indicate about Atunlus condition? It seems that Atunlu has _________ current
assets to meet its short-term obligations.
