Question

Feiler Corporation has total current assets of $515,000, total current liabilities of $379,000, total stockholders' equity...

Feiler Corporation has total current assets of $515,000, total current liabilities of $379,000, total stockholders' equity of $1,089,000, total plant and equipment (net) of $1,063,000, total assets of $1,578,000, and total liabilities of $489,000. The company's current ratio is closest to:

Multiple Choice

a. 0.78

b. 1.05

c. 1.36

d. 2.17

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Homework Answers

Answer #1

The company's current ratio is closest to:

Answer: c) 1.36

Workings:

Formula for calculating Current ratio is

Current Asset = $515,000 (Data given in problem)

Current Liability = $379,000 (Data given in problem)

Current ratio = $515,000 ÷ $379,000

                        = 1.358839

                        = 1.36

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