Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Based on the following data, what is the quick ratio, rounded to one decimal point? Accounts payable $30,000 Accounts receivable 68,000 Accrued liabilities 8,000 Cash
Based on the following data, what is the quick ratio, rounded to one decimal point?
| Accounts payable | $30,000 |
| Accounts receivable | 68,000 |
| Accrued liabilities | 8,000 |
| Cash | 31,000 |
| Intangible assets | 54,000 |
| Inventory | 79,000 |
| Long-term investments | 85,000 |
| Long-term liabilities | 118,000 |
| Short-term Marketable securities | 33,000 |
| Fixed assets | 682,000 |
| Prepaid expenses | 11,000 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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
Cornerstones of Financial and Managerial Accounting
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
2nd edition
978-0538473484, 538473487, 978-1111879044
