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Sterling had assets and liabilities as follows: Cash  $25,000 Accounts Receivable   $40,000 Inventory    $62,500 Building (net of accum. deprec.)   $90,000 Goodwill    $65,000 Accounts Payable    $55,500 Accrued Expenses   $12,500 Bond Payable (Due in 15 yrs)   $90,000   Calculate working capital, and current and quick ratios

Sterling had assets and liabilities as follows: Cash  $25,000 Accounts Receivable   $40,000 Inventory    $62,500 Building (net of accum. deprec.)   $90,000 Goodwill    $65,000 Accounts Payable    $55,500 Accrued Expenses   $12,500 Bond Payable (Due in 15 yrs)   $90,000   Calculate working capital, and current and quick ratios

FINANCIAL ACCOUNTING
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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Sterling had assets and liabilities as follows:

Cash  $25,000

Accounts Receivable   $40,000

Inventory    $62,500

Building (net of accum. deprec.)   $90,000

Goodwill    $65,000


Accounts Payable    $55,500

Accrued Expenses   $12,500

Bond Payable (Due in 15 yrs)   $90,000

 

Calculate working capital, and current and quick ratios 

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