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Home Q & A Board Other Fields Homework Help Business Accounting
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Jonrey D. Panes Jonrey D. Panes
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Posts: 3
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7 months ago
1. K Carpets, Inc. has asked you to calculate the company's current ratio for 2022. All you have
is a partial balance sheet and some assumptions. Using the information provided, calculate
K's current ratio for 2022.
Gross profit margin = 50%
Inventory turnover (COGS/Inv) = 5
2022 sales = P3,000
Assets Liabilities & Equity
Cash ? Accounts payable P50
AR P40 Accruals ?
Inventory ? Long-term debt P400
Net fixed assets P500 Equity 250
Total assets P900 Total liab. & equity ?
A. 0.3
B. 0.8
C. 1.6
D. 2.2
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Anonymous
wrote...
#1
7 months ago
See if this helps
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