The current asset section of food truck Wok n' Roll's balance sheet included cash of $30,000 and accounts receivable of $45,000. The only other current asset is inventories. The company's current ratio is 2.5 and its acid-test ratio is 2.0. Determine the ending balance in inventories and total current liabilities.
Added by Christina C.
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The current assets excluding inventories are the sum of cash and accounts receivable. Current assets excluding inventories = $30,000 + $45,000 = $75,000 Show more…
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