Calculate the Current Ratio Using the Following Information: (Round Your

question 11

Multiple Choice

Calculate the current ratio using the following information: (Round your answer to two decimal places.) $$\begin{array} { l l } \text { Cash } & \$ 6,000 \\\text { Accounts Receivable } & 1,300 \\\text { Prepaid Rent } & 1,100 \\\text { Larid } & 20,000 \\\text { Equipment } & 4,000 \\\text { Accurnulated Depreciation } & 1,200 \\\text { Accounts Payable } & 3,000 \\\text { Salaries Payable } & 1,000 \\\text { Notes Payable-long term } & 9,000\end{array}$$

• A) 2.10
• B) 2.80
• C) 1.53
• D) 1.83

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