Question
Question: A company has the following information from its balance sheet: Assets Amount (USD) Liabilities and Equity Amount (USD) Cash $180,000 Accounts Payable $50,000 Accounts
Question:
A company has the following information from its balance sheet:
Assets | Amount (USD) | Liabilities and Equity | Amount (USD) |
Cash | $180,000 | Accounts Payable | $50,000 |
Accounts Receivable | $110,000 | Notes Payable | $55,000 |
Inventory | $130,000 | Long-term Debt | $250,000 |
Property | $280,000 | Shareholders' Equity | $450,000 |
Calculate the quick ratio for the company.
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Core Concepts Of Accounting Information Systems
Authors: Nancy A. Bagranoff, Mark G. Simkin, Carolyn Strand Norman
11th Edition
9780470507025, 0470507020
