Cash is $12,000, net accounts receivable amounts to $18,000, inventory is $21,000, prepaid expenses total $3,000, and

Question:

Cash is $12,000, net accounts receivable amounts to $18,000, inventory is $21,000, prepaid expenses total $3,000, and current liabilities are $37,500. What is the quick ratio?

a. 1.44

b. 1.36

c. 0.80

d. 0.88 AppendixLO1

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Financial Accounting

ISBN: 9781292019543

3rd Global Edition Edition

Authors: Robert Kemp, Jeffrey Waybright, Pearson Education

Question Posted: