(Answered) Andrews balance sheet at the end of a trading year shows

Economics

Andrew's balance sheet at the end of a trading year shows current assets of £35,260 and current liabilities of £17,200. The current assets include stock of £12,040, bank account of £7,700, cash of £532 and an amount owed by debtors.

(a) Calculate:

(i) The amount owed by debtors

(ii) the acid test ratio.

(b) State whether or not you would judge the liquidity of the business to be healthy. Give a reason for your answer.

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