What is the current ratio at 31 december 2004

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Reference no: EM131341209

XYZ's balance sheet as at 31 December 2004 had the following items (arranged here in random order):

	EUR		EUR
Trade payables	5,000	Financial assets	1,500
Trade receivables	7,000	Other current assets	3,500
Short-term borrowings	8,000	Property, plant and equipment	8,500
Cash and cash equivalents	2,000	Wages payable	1,500
Current portion of bonds payable	2,000

(a) What is the current ratio at 31 December 2004?

(b) Explain what the current ratio indicates.

Reference no: EM131341209

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