On December 31, 2017, Stanley Co

question 73

Essay

On December 31, 2017, Stanley Co. had current assets of $20,000 (all cash) and current liabilities of $9,000 in accounts payable, resulting in a current ratio of 2.22. On December 31, 2017, Stanley purchases $6,000 of inventory on account. Calculate Stanley's current ratio after the inventory has been purchased.

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Definitions:

Activation-synthesis

A theory of dreaming that states dreams are created by the higher centers of the cortex to explain the activation by the brain stem of cortical cells during REM sleep periods.

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A chronic sleep disorder characterized by overwhelming daytime drowsiness and sudden attacks of sleep, often linked to a deficiency in the brain's regulation of wakefulness.

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The loss of muscle function in part of your body, which can be a complete or partial inability to move muscles.

Sleep

A naturally recurring state of mind and body characterized by altered consciousness, relatively inhibited sensory activity, reduced muscle activity, and inhibited nearly all voluntary muscles during rapid eye movement (REM) stages.