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The December 31,Year 1,balance Sheet of Rowan Company Shows Current

Question 14

Multiple Choice

The December 31,Year 1,balance sheet of Rowan Company shows current assets of $32,000 and current liabilities of $20,000.On January 1,Year 2,the company recorded the following entries:
The December 31,Year 1,balance sheet of Rowan Company shows current assets of $32,000 and current liabilities of $20,000.On January 1,Year 2,the company recorded the following entries: After the two journal entries were recorded,what is the company's current ratio? A) 2 to 1 B) 1.6 to 1 C) 2.4 to 1 D) 2.1 to 1
After the two journal entries were recorded,what is the company's current ratio?


A) 2 to 1
B) 1.6 to 1
C) 2.4 to 1
D) 2.1 to 1

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