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If a company has current assets of $150,000 and current liabilities of $75,000,
If a company has current assets of $150,000 and current liabilities of $75,000, what is its current ratio?
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If a company has current assets of $150,000 and current liabilities of $75,000, what is its current ratio?
2:1
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Current Ratio = Current Assets / Current Liabilities = 150,000 / 75,000 = 2:1.
Questions & Step-by-step Solutions
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Q: If a company has current assets of $150,000 and current liabilities of $75,000, what is its current ratio?
Solution:
Current Ratio = Current Assets / Current Liabilities = 150,000 / 75,000 = 2:1.
Steps: 6
Show Steps
Step 1: Identify the current assets of the company, which is $150,000.
Step 2: Identify the current liabilities of the company, which is $75,000.
Step 3: Use the formula for current ratio, which is Current Assets divided by Current Liabilities.
Step 4: Plug in the numbers: Current Ratio = 150,000 / 75,000.
Step 5: Calculate the result: 150,000 divided by 75,000 equals 2.
Step 6: Write the current ratio in the format of 'X:Y', which is 2:1.
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