Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a partial balance sheet for captain d's sportswear

A partial balance sheet for Captain D's Sportswear is shown below. (dollars in thousands) ...

70.2K

Verified Solution

Question

Accounting

A partial balance sheet for Captain D's Sportswear is shown below. (dollars in thousands)

Assets: Liabilities:
Cash $60 Accounts payable $240
Accounts receivable (net) 170 Other liabilities 80
Investments 50 Total current liabilities 320
Inventory 200 Long-term liabilities 110
Prepaid rent 25 Total liabilities 430
Total current assets 505 Stockholders equity:
Property & Equipment, (net) 255 Common stock 150
Retained earnings 180
Total stockholders equity 330
Total assets $760 Total liabilities and equity $760

The current ratio is (rounded to two decimal places):

1.98.

1.58.

1.17.

0.66.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

7. Consider two noninteracting particles in a 1D simple harmonic oscillator (SHO) potential, which has 1-particle...

Biology
1.2K views

Hormone replacement therapy reduces the risk for which of the following conditions O endometrial cancer...

Basic Math
1.2K views

a What is the probability of obtaining heads and a five Enter the probability as...

Basic Math
1.2K views

A politician accused of McCarthyism would most likely encourage African Americans to run for political...

Statistics
1.2K views

Use sigma notation to write the sum 1 1 6 1 6 2 IM 1...

Calculus
1.2K views

2 Match each equation with the graph of the corresponding function below A y B...

Algebra
1.2K views

In 1 8 match each expression with the correct choice to form an identity Choices...

Accounting
1.2K views

How many questions I can ask here?

Accounting
1.2K views

Gregs Breads can produce and sell only one of the following two products: Oven Contribution...

Accounting
1.2K views

a company's inventory records contain the following informtation: Beginning Inventory: 300 Units , $780 Purchased...

Accounting
1.2K views

A company developed the following per unit materials standards for its product: 3 gallons of...

Accounting
1.2K views

Question 10 (Q 11) VitaPup produces a vitamin-enhanced dog food that is sold in Kansas....