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What is the formula for calculating current ratio

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Reference no: EM131800036

Question - What is the formula for calculating current ratio and acid test ratio after a transaction. For example, a Company has $1,000,000 of current assets, a current ratio of 1.8:1 and an acid test ratio of 1.4:1. First transaction is purchased $80,000 of merchandise inventory on credit. What is the new current ratio and acid test ratio and how do you get it.

Reference no: EM131800036

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