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The current ratio of a company is 5:1 and its acid-test ratio is 1:1

a) The current ratio of a company is 5:1 and its acid-test ratio is 1:1. If the inventories and prepaid items amount to $500,000, what is the amount of current liabilities?b) A company had an average inventory last year of $200,000 and its inventory turnover was 5. If sales volume and unit cost remain the same this year as last and inventory turnover is 8 this year, what will average inventory have to be during the current year?c) A company has current assets of $90,000 (of which $40,000 is inventory and prepaid items) and current liabilities of $40000. What is the current ratio? What is the acid-test ratio? If the company borrows $15000 cash from a bank on a 120-day loan, what will its current ratio be? What will the acid-test ratio be?d)A company has current assets of $600,000 and current liabilities of $240,000. The board of directors declares a cash dividend of $180,000. What is the current ratio after the declaration but before payment?

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