The Copper Grill has the following current assets: cash,$12 million; receivables,$50 million; inventory,$44 million; and other current assets $4 million.The Copper Grill has the following liabilities: accounts payable,$38 million; current portion of long-term debt,$7 million; and long-term debt,$12 million.Based on these amounts,calculate the current ratio and the acid-test ratio for The Copper Grill.

Question

Quizplus · Accepted Answer

The Answer of The Copper Grill has the following current assets: cash,$12 million; receivables,$50 million; inventory,$44 million; and other current assets $4 million.The Copper Grill has the following liabilities: accounts payable,$38 million; current portion of long-term debt,$7 million; and long-term debt,$12 million.Based on these amounts,calculate the current ratio and the acid-test ratio for The Copper Grill.

The Copper Grill Has the Following Current Assets: Cash,$12 Million;