Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Privett Company Accounts payable $28,769 Accounts receivable 61,520 Accrued liabilities 6,513 Cash 23,785 Intangible assets 43,126 Inventory 81,219 Long-term investments 90,071 Long-term liabilities 70,162 Marketable

Privett Company
Accounts payable $28,769
Accounts receivable 61,520
Accrued liabilities 6,513
Cash 23,785
Intangible assets 43,126
Inventory 81,219
Long-term investments 90,071
Long-term liabilities 70,162
Marketable securities 33,194
Notes payable (short-term) 25,834
Property, plant, and equipment 653,142
Prepaid expenses 2,266

Based on the data for Privett Company, what is the quick ratio, rounded to one decimal point?

a.16.2

b.1.9

c.0.9

d.3.3

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing And Assurance Services An Integrated Approach

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley

10th Edition

0131457349, 978-0131457348

More Books

Students also viewed these Accounting questions

Question

Explain the role of research design in HRD evaluation

Answered: 1 week ago