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The following information of company for year ended December 31,2021 supplies:1500 service revenue 19000,other operating expenses frw 10000,cash 15000,acciunts payable:11000,Divends::6000,accounts receive able :4000 notes payable 1000 common stock 1000,equipment 9500,retained earnings 5000.what is total asset and quick ratio?

Sagot :

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1. Total Assets:

  Total Assets = Cash + Accounts Receivable + Equipment

2. Quick Ratio:

  Quick Ratio = (Cash + Accounts Receivable) / Current Liabilities

Given data:

- Cash: FRW 15,000

- Accounts Receivable: FRW 4,000

- Equipment: FRW 9,500

- Accounts Payable: FRW 11,000

- Notes Payable: FRW 1,000

Calculate:

1. Total Assets:

  Total Assets = 15,000 (Cash) + 4,000 (Accounts Receivable) + 9,500 (Equipment)

               = FRW 28,500

2. Quick Ratio:

  Quick Ratio = (15,000 (Cash) + 4,000 (Accounts Receivable)) / 11,000 (Accounts Payable) + 1,000 (Notes Payable)

              = 19,000 / 12,000

              = 1.583

So, the total assets are FRW 28,500, and the quick ratio is 1.583.

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