Signal Hill Ltd

question 55

Multiple Choice

Signal Hill Ltd.had the following accounts on their balance sheet: Cash $10,000, Accounts receivable $50,000, Inventory $45,000, Prepaid rent $2,500, Long-term receivable $12,000, Accounts payable $27,500, Interest payable $1,200, Current portion of long-term bank debt $50,000, and Long-term debt $100,000.What was their current ratio?

• A)1.36
• B)1.39
• C)1.51
• D)3.72

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