At the beginning of the year, Butters Company's balance sheet showed current assets of $35,000 and current liabilities of $23,000. During the current year, Butters issued common stock for $4900 for cash and purchased $2800 of inventory on account
After these transactions were recorded, Butter's current ratio was: (Round your final answer to two decimal places.)
A) 1.51.
B) 1.55.
C) 1.66.
D) 1.52.
C
Explanation: C) ($35,000 + $4900 + $2800 ) ÷ ($23,000 + $2800 ) = 1.66
Business
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