Question
Accounts payable$40,000 Accounts receivable65,000 Accrued liabilities7,000 Cash30,000 Intangible assets40,000 Inventory72,000 Long-term investments110,000 Long-term liabilities75,000 Marketable securities36,000 Notes payable (short-term)30,000 Property, plant, and equipment625,000 Prepaid expenses2,000
Accounts payable$40,000
Accounts receivable65,000
Accrued liabilities7,000
Cash30,000
Intangible assets40,000
Inventory72,000
Long-term investments110,000
Long-term liabilities75,000
Marketable securities36,000
Notes payable (short-term)30,000
Property, plant, and equipment625,000
Prepaid expenses2,000
Based on the above data, what is the quick ratio, rounded to one decimal point?
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Financial Accounting and Reporting
Authors: Barry Elliott, Jamie Elliott
17th edition
978-0273778172, 027377817X, 978-1292080505
