Solved: The current asset section of the excalibur tire companys, Financial Accounting

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The current asset section of the excalibur tire companys

The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable and inventories. The December 31, 2011, balance sheet revealed the following:

Given:

Inventories $840,000

Total assets $2,800,000

Current ratio 2.25

Acid-test ratio 1.2

Debt to equity ratio 1.8

Required:

Determine the following 2011 balance sheet items:

1. Current Assets

2. Shareholders' Equity

3. Noncurrent Assets

4. Long-term Liabilities

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Financial Accounting: The current asset section of the excalibur tire companys

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Financial Accounting: The current asset section of the excalibur tire companys

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