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  3. a) for the corporations compute the current ratio,

a) For the corporations compute the current ratio, which you...

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Question

Accounting

a) For the corporations compute the current ratio,
which you compute by dividing the total current assets by the
total current liabilities data is located on the balance sheet
of each company. Please show your work. If you just show
the answer, you will not receive any points.
(b) Compute the acid test or quick ratio, which you compute by
dividing the total current assets (minus prepaid insurance &
all the inventory accounts) by the total current liabilities.
Some corporations do not show prepaid insurance on their
balance sheet. (Because of the materiality concept, they
record it as an expense rather than a current asset). If any of
the corporations do this, then ignore it in your
calculation of the ratio. Please show your work. If you just
show the answer, you will not receive any points
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