The current asset section of Guardian Consultant's balance sheet consists of cash, accounts receivable, and...
60.1K
Verified Solution
Link Copied!
Question
Accounting
The current asset section of Guardian Consultant's balance sheet consists of cash, accounts receivable, and prepaid expenses. The 2018 balance sheet reported the following: cash $1,380,000; prepaid expense, $440,000; noncurrent assets, $3,200,000; and shareholder's equity, $3,300,000. The current ratio at the end of the year was 2.0 and the debt to equity ratio was 1.8.
Determine the following 2018 amounts and rations: (Round your "acid test ration" to one decimal place. Please show all work.
1. Current Liabilities
2. Long-term liabilities
3. Accounts Receivables
4.. The Acid-Ratio Test
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!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.