Calculate the current ratio using the following information: (Round your answer to two decimal places.) $$\begin{array} { l l }
\text { Cash } & \$ 6,000 \
\text { Accounts Receivable } & 1,300 \
\text { Prepaid Rent } & 1,100 \
\text { Larid } & 20,000 \
\text { Equipment } & 4,000 \
\text { Accurnulated Depreciation } & 1,200 \
\text { Accounts Payable } & 3,000 \
\text { Salaries Payable } & 1,000 \
\text { Notes Payable-long term } & 9,000
\end{array}$$
A) 2.10
B) 2.80
C) 1.53
D) 1.83

Question

Calculate the current ratio using the following information: (Round your answer to two decimal places.) $$\begin{array} { l l } 
\text { Cash } & \$ 6,000 \
\text { Accounts Receivable } & 1,300 \
\text { Prepaid Rent } & 1,100 \
\text { Larid } & 20,000 \
\text { Equipment } & 4,000 \
\text { Accurnulated Depreciation } & 1,200 \
\text { Accounts Payable } & 3,000 \
\text { Salaries Payable } & 1,000 \
\text { Notes Payable-long term } & 9,000
\end{array}$$
A) 2.10
B) 2.80
C) 1.53
D) 1.83

Quizplus · Accepted Answer

Current assets = $6,000 + $1,300 + $1,100 = $8,400Current liabilities = $3,000 + $1,000 = $4,000Current ratio = $8,400 / $4,000 = 2.10

Calculate the Current Ratio Using the Following Information: (Round Your