Answered

At Westonci.ca, we connect you with the answers you need, thanks to our active and informed community. Discover comprehensive solutions to your questions from a wide network of experts on our user-friendly platform. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals.

Transic Corporation has the following financial data for 2016 and 2017. 2017 2016 ASSETS Current Assets: Cash $ 48,000 $ 14,000 Marketable Securities 9,000 13,000 Accounts Receivable 35,000 24,000 Other Current Assets 15,000 18,000 Total Current Assets 107,000 69,000 Fixed Assets (net) 140,000 130,000 Total Assets $247,000 $199,000 LIABILITIES Current Liabilities $ 72,000 $ 52,000 Long-term Liabilities 50,000 37,000 Total Liabilities $122,000 $ 89,000 Total Stockholders' Equity $125,000 $110,000 Total Liabilities And Stockholders' Equity $247,000 $199,000 What is Transic's current ratio for 2017

Sagot :

abiolataiwo2015

Answer:

1.49

Explanation:

Calculation to determine Transic's current ratio for 2017

Using this formula

2017 Current ratio=2017 Total Current Assets /2017 Current Liabilities

Let plug in the formula

2017 Current ratio=$107,000/$ 72,000

2017 Current ratio=1.486

2017 Current ratio=1.49 (Approximately)

Therefore Transic's current ratio for 2017 is 1.49

Thanks for using our service. We aim to provide the most accurate answers for all your queries. Visit us again for more insights. Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. We're dedicated to helping you find the answers you need at Westonci.ca. Don't hesitate to return for more.