Question
Continuing with the sameVaughn Vacuum Balance Sheet: Cash$700,000AccountsPayable$1,200,000 Marketable Securities950,000NotesPayable2,500,000 Accounts Receivable1,250,000Long-TermDebt1,600,000 Inventory3,400,000CommonStock4,250,000 Net FixedAssets6,550,000RetainedEarnings3,300,000 TotalAssets$12,850,000TotalClaims$12,850,000 Compute VV's Quick Ratio(Acid Test) ,rounded to 2 decimal
Continuing with the sameVaughn Vacuum Balance Sheet:
Cash$700,000AccountsPayable$1,200,000
Marketable Securities950,000NotesPayable2,500,000
Accounts Receivable1,250,000Long-TermDebt1,600,000
Inventory3,400,000CommonStock4,250,000
Net FixedAssets6,550,000RetainedEarnings3,300,000
TotalAssets$12,850,000TotalClaims$12,850,000
Compute VV'sQuick Ratio(Acid Test),rounded to 2 decimal places.
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Principles of Financial Accounting chapters 1-17
Authors: John Wild, Ken Shaw, Barbara Chiappetta
23rd edition
1259687740, 1259687747, 978-1259687747
