Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises,...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows: ($ in millions) ACME Corporation Wayne Enterprises Current assets: Cash and cash equivalents $ 503 $ 155 Current investments 7 484 Net receivables 770 76 Inventory 10,622 7,309 Other current assets 1,301 125 Total current assets $ 13,203 $ 8,149 Current liabilities: Current debt $ 7,321 $ 4,270 Accounts payable and accrued liabilities 1,677 931 Other current liabilities 1,182 2,300 Total current liabilities $ 10,180 $ 7,501 Required: 1-a. Calculate the current ratio for ACME Corporation and Wayne Enterprises. (Enter your answers in millions (i.e., $5,500,000 should be entered as 5.5).)
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: Flex AI - Your personal assistant for all your inquiries!
