Dooley Company had current assets of $1,552, current liabilities of $1,413, total assets of $1,742, and longminusterm liabili

Question

3 years ago

10

Dooley Company had current assets of $1,552, current liabilities of $1,413, total assets of $1,742, and longminusterm liabili

ties of $1,210. If Dooley acquires inventory by executing a sixminusmonth note for $1,550, what is the new current ratio? (Round your final answer to two decimal places.)

Business

1 answer:

Yuliya22 [10] · Answer 1 · 2022-05-04T20:01:57+03:00

Answer:

new current ratio = 1.09

Explanation:

given data

current assets = $1,552

current liabilities = $1,413

total assets = $1,742

liabilities = $1,210

solution

we get here new current ratio that is express as

new current ratio = current assets ÷ current liability ...............1

put here value and we will get

new current ratio = 1,552 ÷ 1,413

new current ratio = 1.09

Dooley Company had current assets of​ $1,552, current liabilities of​ $1,413, total assets of​ $1,742, and longminusterm liabili

Dooley Company had current assets of $1,552, current liabilities of $1,413, total assets of $1,742, and longminusterm liabili