Ask Question
BusinessBusiness
17 August, 02:32

Jones Company has Cash of $600, Accounts Receivable of $500, Office Supplies of $100, and a Building with a cost of $50,000. Jones Company owes $300 on Accounts Payable and has Salaries Payable of $200. What is Jones Company's current ratio?

+3
Answers (1)
  1. 17 August, 05:30
    0
    2.4

    Explanation:

    Jones Company's total current assets = $600 (cash) + $500 (accounts receivable) + $100 (Office supplies) = $1,200

    total current liabilities = $300 (accounts payable) + $200 (salaries payable) = $500

    current ratio = $1,200 / $500 = 2.4

    the current ratio measures a company's short term liquidity, or its ability to generate enough cash to pay its short term debts.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Jones Company has Cash of $600, Accounts Receivable of $500, Office Supplies of $100, and a Building with a cost of $50,000. Jones Company ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
If an employer agrees to give you constructive criticism of your interview performance, you need to listen carefully and take notes. true or false
Answers (1)
The following balances come from the financial statements of a company: Sales revenue $ 850,000 Accounts receivable 280,000 Beginning inventory 50,000 Ending inventory 30,000 Net purchases 460,000 Sales returns 50,000 Sales discount 20,000 Given
Answers (1)
Charles wants to start a décor business and takes a loan of $35,000 from the bank to set up the business. Once the business is up and running, Charles will have full control of the business and its profits.
Answers (1)
What will happen when I link two text boxes? When I click on the box, it will take me to a Web site. When the first box is full, it will resize to fit the text entered. When the first box is full, of text it will automatically go to the second box.
Answers (1)
Preparing journal entries-outputs Hartley Company has a production process that involves three processes. Units move through the processes in this order. cutting, stamping, and then polishing.
Answers (1)
New Questions in Business
Which of the following statements is true about using fonts in business documents? A. Sans serif fonts, such as Arial, are best in business letters and emails. B. Use as many different types of fonts in a business letter as you can. C.
Answers (1)
In creating the Wii, how did Nintendo ensure a supply of complements that would motivate customers to adopt its new video game format? a. Nintendo made only a select number of games to run exclusively on the Wii system. b.
Answers (1)
Suppose that B2B, Inc., has a capital structure of 35 percent equity, 16 percent preferred stock, and 49 percent debt. Assume the before-tax component costs of equity, preferred stock, and debt are 14.5 percent, 11.0 percent, and 9.
Answers (1)
C. explain the court's guidelines for deciding discrimination cases.
Answers (1)
Changing workplace procedures tends to be counterproductive
Answers (1)
Home » Business » Jones Company has Cash of $600, Accounts Receivable of $500, Office Supplies of $100, and a Building with a cost of $50,000. Jones Company owes $300 on Accounts Payable and has Salaries Payable of $200. What is Jones Company's current ratio?
Sign Up Forgot Password?