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QS 4-8 Computing and interpreting acid-test ratio L.O. A1 Cash $ 1,200 Prepaid expenses $ 600 Accounts receivable 2,700 Accounts payable 4,750 Inventory 5,000 Other
QS 4-8 Computing and interpreting acid-test ratio L.O. A1
| Cash | $ | 1,200 | Prepaid expenses | $ | 600 |
| Accounts receivable | 2,700 | Accounts payable | 4,750 | ||
| Inventory | 5,000 | Other current liabilities | 950 | ||
| | |||||
| Using the above information on current assets and current liabilities compute the acid-test ratio. (Round your answer to 2 decimal places.) |
| Acid-test ratio |
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Working Papers Volume 1 For Needles/Powers/Crossons Financial And Managerial Accounting 8th
Authors: Belverd E. Needles
8th Edition
0618777237, 978-0618777235
