Question
Pritchett Company reported the following year-end data: $ 20,700 7,300 Cash Short-term investments Accounts receivable (current) Inventory Prepaid (current) assets Total current liabilities. 11,600
Pritchett Company reported the following year-end data: $ 20,700 7,300 Cash Short-term investments Accounts receivable (current) Inventory Prepaid (current) assets Total current liabilities. 11,600 38,100 18,000 33,000 Compute the (a) current ratio and (b) acid-test ratio.
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a The current ratio is calculated by dividing current assets by current lia...Get Instant Access to Expert-Tailored Solutions
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
4th Canadian edition
978-1259269868, 978-1259103292
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