Schultz Consultancy reports: $$\begin{array} { l r }
\text { Total assets } & \$ 950000 \
\text { Profit } & 30000 \
\text { Current liabilities } & 285000
\end{array}$$ If current assets = 60% of total assets Schultz's current ratio is:

Question

Schultz Consultancy reports: $$\begin{array} { l r } 
\text { Total assets } & \$ 950000 \
\text { Profit } & 30000 \
\text { Current liabilities } & 285000
\end{array}$$ If current assets = 60% of total assets Schultz's current ratio is:

Quizplus · Accepted Answer

Current assets are 60% of total assets, which is $570,000. The current ratio is current assets divided by current liabilities: $570,000 / $285,000 = 2 to 1.

Schultz Consultancy Reports Total assets $950000 Profit 30000 Current liabilities 285000\begin{array} { l r } \text { Total assets } & \$ 950000 \\\text { Profit } & 30000 \\\text { Current liabilities } & 285000\end{array} Total assets Profit Current liabilities ​$95000030000285000​

Schultz Consultancy Reports $\begin{array} { l r } \text { Total assets } & \$ 950000 \\\text { Profit } & 30000 \\\text { Current liabilities } & 285000\end{array}$