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Vinvika [58]
3 years ago
12

Scrubber, Inc, presented the following information in a note to its financial statements for the year ending December 31, 2016.

Business
1 answer:
Reil [10]3 years ago
7 0

Answer:

Yes, the cash balance is less than $75,000

Explanation:

a. b

Current ratio is more than required : No violation

Debt to equity ratio is less than stated: No violation

Cash balance as per books exceed 75000 but as per bank book less: violation

(As per bank reco the amount is different as company may not recorded bank charges and expenses as reflected in bank statement.

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