Solution-Calculate current ratio for the year

Calculate current ratio for the year

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Reference no: EM133106602

Question 1 - The following information has been extracted from the financial statements of ChopChop Pty. Ltd., a knife wholesaler.

Accounts	2021 in thousands
Cash at bank	$166
Interest Expense	$60
Accounts Receivable	$467
Inventory	$669
Bank Loan (5 years)	$580
Accounts Payable	$335
Property, Plant and Equipment	$1,300
Sales	$675
COGS	$255
Wages Expense	$67

Required - Calculate current ratio for the year 2021.

Question 2 - The following information has been extracted from the financial statements of Muggie Pty. Ltd., a mug wholesaler.

Accounts	2019 in thousands
Sales	$775
COGS	$320
Accounts Receivable	$479
Inventory	$330
Bank Loan (5 years)	$580
Accounts Payable	$320
Property, Plant and Equipment	$1,300
Cash	$170
Depreciation Expense - Motor Vehicle	$80
Wages Expense	$50

Required - Calculate quick asset ratio for the year 2019.

Reference no: EM133106602

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Calculate current ratio for the year : The following information has been extracted from the financial statements of ChopChop Pty. Ltd., a knife wholesaler. Calculate current ratio for the year

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Calculate current ratio for the year

Reference no: EM133106602

Reference no: EM133106602

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