The current asset section of the excalibur tire companys, Ask an Expert

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The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable, and inventories. The December 31, 2011, balance sheet revealed the following:

Inventories $ 840,000
Total assets $2,800,000
Current ratio 2.25
Acid-test ratio 1.2
Debt to equity ratio 1.8

Determine the following 2011 balance sheet items:

1. Current assets
2. Shareholders' equity
3. Noncurrent assets
4. Long-term liabilities

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9958975

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