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Brief Exercise 8 - 1 7 ( Algo ) Calculate current ratio and acid - test ratio ( LO 8 - 6 ) Airline Accessories
Brief Exercise Algo Calculate current ratio and acidtest ratio LO
Airline Accessories has the following current assets: cash, $ million; receivables, $ million; inventory, $ million; and other
current assets, $ million. Airline Accessories has the following liabilities: accounts payable, $ million; current portion of longterm
debt, $ million; and longterm debt, $ million. Based on these amounts, calculate the current ratio and the acidtest ratio for Airline
Accessories. Enter your answers in millions, not in dollars. For example, $ should be entered as
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