Answered

Looking for answers? Westonci.ca is your go-to Q&A platform, offering quick, trustworthy responses from a community of experts. Ask your questions and receive accurate answers from professionals with extensive experience in various fields on our platform. Our platform provides a seamless experience for finding reliable answers from a network of experienced professionals.

Vito Co. had current assets of $9,000 and current liabilities of $6,000 at the end of the year. Net income during the year was $21,000. The current ratio for the period is:

Sagot :

ayokenny2001

The current ratio for Vito Co. with respect to the period under review is 1.5

What is current ratio?

The current ratio, also known as the working capital ratio, measures the capability of a business to be able to meet its short term financial obligations.

The Current Ratio formula is

= Current Assets / Current Liabilities

= $9,000 / $6,000

= 1.5

Therefore, the current ratio for Vito Co. with respect to the period under review is 1.5

Learn more about current ratio here: https://brainly.in/question/45000916

Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Westonci.ca is your trusted source for answers. Visit us again to find more information on diverse topics.