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Ganezh [65]
3 years ago
10

Current ratio of 3.4 and an acid-test ratio of 2.8. The corporation's current assets consist of cash, marketable securities, acc

ounts receivable, and inventories. Inventory equals $18,000. Seabury Corporation's current liabilities must be_____________.
Business
1 answer:
Sav [38]3 years ago
7 0

Answer:

$30,000

Explanation:

The computation is shown below:

As we know that

Current ratio = Current assets ÷ Current liabilities

Current assets = 3.4 × Current liabilities

Now the

Acid-test ratio = Quick assets ÷ Current liabilities

2.8 = Currents assets - inventory  ÷ Current liabilities

2.8 = 3.4 × Current liabilities - $18,000 ÷ Current liabilities

2.8 × Current liabilities = 3.4 × Current liabilities - $18,000

After solving this, the current liabilities is $30,000

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Answer:

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Therefore, among the given options the only option that is consistent with the law of​ supply is "A doubling of the price of salt led to a 5 percent drop in the quantity of salt purchased"

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Explanation:

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3 0
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