A company has $33,000 in cash and cash equivalents, $82,000 in short-term investments, $121,000 in net current receivables 555,000 in inventory, $11,000 of prepaid insurance and $9000 of supplies. The total current liabilities of the firm are $299,000

The quick ratio of the company is: (Round your final answer to two decimal places.)

O 0.97.

1.04.

O 0.38

O 0.79

Jarry Corporation paid $2,500 cash for mechanical work to be conducted on one of the company's factory machines. The mechanical work extended the useful life of the machine beyond the original estimate, but did not increase the productive capacity of the machine How should Jarry Corporation account for this cush outlay?

Jarry Corporation should account for this as an improverment and capitalize the expenditure as an asset.

O Jarry Corporation should account for this as an ordinary repair and maintenance and expense the expenditure

Jarry Corporation should account for the expenditure as part of cost of goods sold.

Jarry Corporation should account for the expenditure by creating an allowance account.