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Calculate the current ratio for the business

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Question 1: A business had $5 in the bank, accounts receivable of $6, accounts payable of $3, inventory of $4 and accrued expenses of $1. Calculate the current ratio for the business.

Question 2: You have beginning inventory of $40,000, Ending inventory of $20,000 and Cost of (Goods) sold of $100,000. How much Purchases did you made?

Question 3: During the year ended 30 June, the owner of a business paid $2000 in insurance. Of this amount $333 related to July and August 2010. How would the amount $333 would be shown in the balance sheet at 30 June 2010?

Reference no: EM132599542

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