Question
As of December 31, the Stanford company has the following information. cash - 5,000 accounts revivable - 15,000 inventory - 40,000 prepaid insurance - 3000
As of December 31, the Stanford company has the following information.
cash - 5,000
accounts revivable - 15,000
inventory - 40,000
prepaid insurance - 3000
long term assets - 100,000
accounts payable - 15,000
notes payable in 5 months - 12,500
salary payable- 25,000
notes payable in 5 years - 35,0000
owners equity - 98,000
What is the company's quick ratio?
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
Managerial Accounting Tools for Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
8th edition
978-1-119-3904, 1119392422, 111939242X, 1119390451, 978-1119392422
