Question
Harding Company Line Item Description Amount Accounts payable $40,000 Accounts receivable 65,000 Accrued liabilities 7,000 Cash 30,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 110,000
Harding Company Line Item Description Amount
Accounts payable $40,000
Accounts receivable 65,000
Accrued liabilities 7,000
Cash 30,000
Intangible assets 40,000
Inventory 72,000
Long-term investments 110,000
Long-term liabilities 75,000
Marketable securities 36,000
Notes payable (short-term) 30,000
Prepaid expenses 2,000
Property, plant, and equipment 625,000
Based on the data for Harding Company, what is the quick ratio?
a. 0.9 b. 2.6 c. 2.7 d. 1.7
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Auditing and Assurance Services A Systematic Approach
Authors: William Messier, Steven Glover, Douglas Prawitt
9th edition
1308361491, 77862333, 978-1259248290, 9780077862336, 1259162346, 978-1259162343
