Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

10. Quicksilver Co. at the end of current year has cash of $41,000; net Accounts Receivable of $51,000; short-term investments of $15,000 and inventory of

image text in transcribed

10. Quicksilver Co. at the end of current year has cash of $41,000; net Accounts Receivable of $51,000; short-term investments of $15,000 and inventory of $32,000. It also has $28,000 in current liabilities and $39,000 in long-term liabilities. The sales of current year is $120,000 and net income is $18.000. At the beginning of current year, the company had inventory of 28,000 and net Accounts Receivable of $49,000. a. What's the quick ratio? (3 Points) b. What's the accounts receivable turnover? (3 Points)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

Please solve problem in C please

Answered: 1 week ago