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Calculate quick ratio The following information is derived from the financial statements prepared by the city of Tallahassee, Florida for the fiscal year ended September
Calculate quick ratio
The following information is derived from the financial statements prepared by the city of Tallahassee, Florida for the fiscal year ended September 30, 2016. the data is for the General Fund, condensed to reduce the number of captions (but not the totals), and is expressed in thousands of dollars.
Balance Sheet | |
---|---|
Assets | |
Cash and cash equivalents | $36,308 |
Due from other governments | 10,504 |
All other assets | 2,041 |
Total assets | $48,853 |
Liabilities and Fund Balance | |
Total liabilities | $13,066 |
Fund balance | |
Nonspendable | 1,513 |
Committed | 25,251 |
Assigned | 2,479 |
Unassigned | 6,544 |
Total fund balance | 35,787 |
Total liabilities and fund balance | $48,853 |
Statement of Revenues, Expenditures, and Changes in Fund Balances | |
---|---|
Total revenues | $111,484 |
Total expenditures | 137,936 |
Excess of revenues over (under) expenditures | (26,452) |
Other financing sources (uses) | |
Transfers in | 46,532 |
Transfers out | (19,412) |
Proceeds from sale of capital assets | 5,370 |
Total other financing sources (uses) | 32,490 |
Net change in fund balance | 6,038 |
Fund balance, October 1,2015 | 29,749 |
Fund balance, September 30, 2016 | $35,787 |
Calculate the city of Tallahassee's quick ratio.
Round answer to one decimal place
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