Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a business's statement of financial position shows

A business's statement of financial position shows the following relationships: Current ratio = 3:1 Acid...

70.2K

Verified Solution

Question

Accounting

A business's statement of financial position shows the following relationships:

Current ratio = 3:1

Acid test ratio = 2.5:1

Current assets to non-current assets = 1:2

The total assets of the business are 27 million.

What is the value of the inventories as shown on the statement of financial position? If necessary, round to the first decimal point.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

solve the following 1. solve the following inequality for X 2x^2 +5x <3 2. without solving the equation...

Basic Math
Q

Cells involved in innate and adapted immunity produce cytokines capable of orchestrating the immune response. Do...

Biology
Q

How is Q-point defined in a bipolar transistor?

Physics
Q

Can I study intermediate accounting with some introductory financial accounting knowledge, or do I have to take...

Accounting
Q

What evidence could scientists use to determine that a mass extinction event had occurred at...

Biology
Q

Provided the options below match the correct choice with its corresponding option 0 Legislative a...

Biology
Q

In a Wheatstone bridge see fig Resistances P and Q are approximately equal When R...

Physics
Q

3 112 100 52 what is the value of x Enter the answer in the...

Geometry
Q

If p represents the statement a cube has six sides then which of the following...

Basic Math
Q

The items for the medical practice of Sandhill, MD, are listed below. Retained earnings (October...

Accounting
Q

Check The adjusted trial balance of Pacific Scenic Corporation on December 31, 2021 the end...

Accounting
Q

complete the 9 boxes Given Information Unit Extended Units Cost...

Accounting