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H3Ko H3Ko
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8 years ago
The data of Franklin Brothers Corp. for two years are given below.

   2016   2017
Cash and cash equivalents   $5,300   $12,300
Total current liabilities   24,000   35,000

Based on the above information, which of the following statements is true?
A) Cash ratio has increased from 0.05 in 2016 to 0.08 in 2017.
B) Cash ratio has increased from 0.351 in 2016 to 0.221 in 2017.
C) Cash ratio has increased from 0.02 in 2016 to 0.03 in 2017.
D) Cash ratio has increased from 0.221 in 2016 to 0.351 in 2017.
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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H3Ko Author
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#2
7 years ago
I posted this question a while back then forgot to check the forum lol Thanks for answering, you were right
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