Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 24 Presented below is information related to Coronado Industries. Current AssetsCash $ 20000 Short-term investments 71000 Accounts receivable 59000 Inventories 103000 Prepaid expenses 30000
Question 24
Presented below is information related to Coronado Industries.
Current AssetsCash $ 20000
Short-term investments 71000
Accounts receivable 59000
Inventories 103000
Prepaid expenses 30000
Total current assets $283000
Total current liabilities are $100000. What is the acid-test ratio?
a) 1.50 to 1.
b) 0.91 to 1.
c) 2.53 to 1.
d) 2.83 to 1.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
