A Company Has a Current Ratio of 3

question 185

Short Answer

A company has a current ratio of 3.4,total liabilities of $350,240 and long-term notes payable of $120,000.What are total current assets for the company?

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Definitions:

Rental Property

Real estate property that is leased or rented out to tenants, generating income for the property owner.

Rental Income

Income received from renting out property or real estate, which is typically subject to income tax.

Schedule C

A form used by sole proprietors to report their business income and expenses to the IRS.

Flow-Through Entities

Business structures where income passes directly to the owners or investors, avoiding corporate income tax.