Compute the current ratio for each year, Accounting Basics

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Compute the current ratio for each year

These selected condensed data are taken from recent balance sheets of Bob Evans Farms (in thousands).

2005 2004

Cash $ 5,267 $ 3,986
Accounts receivable 25,330 22,282
Inventories 24,416 19,540
Other current assets 2,226 1,664
Total current assets $ 57,239 $ 47,472
Total current liabilities $188,628 $145,847

Instructions

Compute the current ratio for each year and comment on your results.Compute the quick (acid test) ratio for each year and comment on your results.

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Accounting Basics: Compute the current ratio for each year

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Accounting Basics: Compute the current ratio for each year

Reference No:- TGS0692277

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Recent Questions Asked Accounting Basics

Q : What is the cost per unit and the price

Q : What is the project net present value

Q : How much extra depreciation will the freight airline

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Compute the current ratio for each year

Reference No:- TGS0692277

Recent Questions Asked Accounting Basics

Q : What is the cost per unit and the price

Q : What is the project net present value

Q : How much extra depreciation will the freight airline

Q : What is the character of the loss carryover

Q : Compute the current ratio for each year

Q : What are her estimated costs

Q : Actual manufacturing overhead costs

Q : Determine the amount of any goodwill impairment

Q : Prepare a cost of production report

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