question archive A partial balance sheet ($s in thousands) for Captain D's Seafood Inc
A partial balance sheet ($s in thousands) for Captain D's Seafood Inc
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A partial balance sheet ($s in thousands) for Captain D's Seafood Inc. is shown below. Assets: Liabilities: Cash $64 Accounts payable $242 Accounts receivable (net) 173 Other liabilities 82 Notes receivable 59 Total current liabilities 324 Inventories 203 Long-term liabilities 119 Prepaid expenses 32 Total liabilities 443 Total current assets 531 Shareholders' equity: Plant assets (net) 263 Capital stock 160 Retained earnings 191 Total stockholders’ equity 351 Total assets $794 Total liabilities and equity $794 The current ratio is (Round your answer to 2 decimal places):
1.64 times
1.20 times
.67 times
2.62 times
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Answer:
| Captain D's Seafood | |||
| Balance sheet (partial) | |||
| Assets | Amt $ | Equities & Liabilities | Amt $ |
| Cash | 64 | Accounts Payable | 242 |
| Accounts Receivable net | 173 | Other Liab | 82 |
| Notes Receivable | 59 | Total Current Laib | 324 |
| Inventory | 203 | Long Term Liab | 119 |
| Prepaid Expenses | 32 | Total Laibilities | 443 |
| Total Current Assets | 531 | Shareholders'Equity | |
| Plant Assets Net | 263 | Capital Stock | 160 |
| Retained Earning | 191 | ||
| Total Shareholders'Equity | 351 | ||
| Total Assets | 794 | Total Equities & Liabilities | 794 |
| Current Ratio =Current Assets/ Current Liabilities=531/324= | 1.64 | Times | |
| So The required Current Asset Ratio is = | 1.64 | times | |
