The following financial information was taken from a firm's accounting records on December 31, 2019. Use this information to determine the items below.
$\begin{array}{ll}
\text { Cash } & \$ 56,000 \
\text { Accounts Receivable (Net) } & 191,000 \
\text { Merchandise Inventory } & 362,000 \
\text { Property, Plant, and Equipment (Net) } & 454,000 \
\text { Accounts Payable } & 139,000 \
\text { Bonds Payable, 2028 } & 160,000
\end{array}$
(1.) Working capital
(2.) Current ratio
(3.) Acid-test ratio

Question

The following financial information was taken from a firm's accounting records on December 31, 2019. Use this information to determine the items below.
$\begin{array}{ll}
\text { Cash } & \$ 56,000 \
\text { Accounts Receivable (Net) } & 191,000 \
\text { Merchandise Inventory } & 362,000 \
\text { Property, Plant, and Equipment (Net) } & 454,000 \
\text { Accounts Payable } & 139,000 \
\text { Bonds Payable, 2028 } & 160,000
\end{array}$ 
(1.) Working capital
(2.) Current ratio
(3.) Acid-test ratio

Quizplus · Accepted Answer

The Answer of The following financial information was taken from a firm's accounting records on December 31, 2019. Use this information to determine the items below.
$\begin{array}{ll}
\text { Cash } & \$ 56,000 \
\text { Accounts Receivable (Net) } & 191,000 \
\text { Merchandise Inventory } & 362,000 \
\text { Property, Plant, and Equipment (Net) } & 454,000 \
\text { Accounts Payable } & 139,000 \
\text { Bonds Payable, 2028 } & 160,000
\end{array}$ 
(1.) Working capital
(2.) Current ratio
(3.) Acid-test ratio

The Following Financial Information Was Taken from a Firm's Accounting