Use the information below to answer this question.

$\begin{array}{c|c} \text{Stock} & 11,250 \\ \hline \text{Debtors} & 18,750 \\ \hline \text{Creditors} & 3,750 \\ \hline \text{Bank} & 4,000 \\ \hline \text{Net profit} & 7,500 \\ \hline \text{Net} & 60,000 \\ \end{array}$

Calculate the acid test ratio

Similar Questions

The document setting out the regulations regarding shares, meetings and internal organization of a c...

A trader bought goods worth #16,000 and sold three-quarter of it for #20,000 The gross profit is ...

Subscription in advance is classified in the balance sheet as ...

Use the following information to answer the given question \(\begin{array}{c|c} & N \\ \hli...

\(\begin{array}{c|c} \text{Rent receivable accrued 1/01/2005} & D3,000\\ \text{Rent received dur...

.........................31 Dec. 05........31 Dec. 06 Total fixed assets.........N7,800.............

The realization concept states that ...

Okoro and Osula are in partnership sharing profits and losses in the ratio 3 : 2 respectively. Their...

Which of these is a content of a master file? ...

Which of the following concept stipulates that accounting profit is the difference between revenue a...