Question
Assets Amount (USD) Liabilities and Equity Amount (USD) Cash $150,000 Accounts Payable $50,000 Accounts Receivable $100,000 Notes Payable $60,000 Inventory $120,000 Long-term Debt $140,000 Property
Assets | Amount (USD) | Liabilities and Equity | Amount (USD) |
Cash | $150,000 | Accounts Payable | $50,000 |
Accounts Receivable | $100,000 | Notes Payable | $60,000 |
Inventory | $120,000 | Long-term Debt | $140,000 |
Property | $250,000 | Shareholders' Equity | $300,000 |
Calculate the quick ratio for the company based on the provided balance sheet.
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
25th edition
978-1285069609, 1285069609, 978-1133607601
