Discount Travel Has the Following Current Assets: Cash,$102 Million;receivables,$94 Million;inventory,$182
Discount Travel has the following current assets: cash,$102 million;receivables,$94 million;inventory,$182 million;and other current assets,$18 million.Discount Travel also has the following liabilities: accounts payable,$98 million;current portion of long-term debt,$35 million;and long-term debt,$23 million.Based on these amounts,what is the current ratio?
A) 2.54.
B) 2.98.
C) 4.04.
Correct Answer:
Verified
Q119: Carpenter Inc.estimates warranty expense at 2% of
Q120: A contingent liability should be recorded on
Q121: Which of the following is true regarding
Q122: Which of the following is a contingency
Q123: Which of the following would not result
Q125: Which financial ratio relates most closely to
Q126: Assuming a current ratio of 1.0 and
Q127: Assuming a current ratio of 1.2 and
Q128: The current ratio is
A)Current assets divided by
Q129: A contingent liability should be disclosed in
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents