Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Accounts payable $ 30,000 Accounts receivable 65,000 Accrued liabilities 7,000 Cash 25,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 100,000 Long-term liabilities 75,000 Marketable securities
Accounts payable | $ 30,000 |
Accounts receivable | 65,000 |
Accrued liabilities | 7,000 |
Cash | 25,000 |
Intangible assets | 40,000 |
Inventory | 72,000 |
Long-term investments | 100,000 |
Long-term liabilities | 75,000 |
Marketable securities | 36,000 |
Notes payable (short-term) | 20,000 |
Property, plant, and equipment | 625,000 |
Prepaid expenses | 2,000 |
Based on the above data, what is the quick ratio, rounded to one decimal point?
2.2 | ||
3.5 | ||
3.0 | ||
1.6 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started