Question

Brown Co. had current assets of $15,000, total assets of $30,000 and current liabilities of $9,000 at the end of the year. The current ratio for the period is:

Answer 1

Based on the information given the current ratio for the period is: 1.67.

Using this formula

Current ratio=Current Assets/Current Liabilities

Where:

Current Assets=$15,000

Current Liabilities=$9,000

Let plug in the formula

Current ratio=$15,000/$9,000

Current ratio=1.666

Current ratio=1.67(Approximately)

Inconclusion the current ratio for the period is: 1.67.

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