Selected financial data from Crew Company is provided below: Cash $66,000 Accounts Receivable $216,000 Inventory $260,000 Short-Term Investments $44,000 Land and Building $473,000 Current Portion
Selected financial data from Crew Company is provided below:
| Cash | $66,000 |
| Accounts Receivable | $216,000 |
| Inventory | $260,000 |
| Short-Term Investments | $44,000 |
| Land and Building | $473,000 |
| Current Portion of Long-Term Debt | $39,000 |
| Accounts Payable | $135,000 |
a) Calculate the quick ratio.
Do not enter dollar signs or commas in the input boxes. Round your answer to 2 decimal places. Quick Ratio = Answer
b) True or False? A quick ratio of 2.32 shows that the company is likely to meet its short-term cash obligations.
Answer
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Authors: Lesley Elder-Aznar
1st Edition
B0B4HKGN3S, 979-8838344298
