Answered: Love Company has current assets of…

Love Company has current assets of P400,000 including inventory of P160,000 and a quick ratio of 2:1. Based on available data, how much is the current liabilities?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Love Company has current assets of P400,000 including inventory of P160,000 and a quick ratio of 2:1. Based on available data, how much is the current liabilities?

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