Question
The following balance sheet information is provided for Greene Company for Year 2: AssetsCash$5,400Accounts receivable15,500Inventory18,000Prepaid expenses1,600Plant and equipment, net of depreciation20,200Land19,950Total assets$80,650Liabilities and Stockholders' EquityAccounts
The following balance sheet information is provided for Greene Company for Year 2:
AssetsCash$5,400Accounts receivable15,500Inventory18,000Prepaid expenses1,600Plant and equipment, net of depreciation20,200Land19,950Total assets$80,650Liabilities and Stockholders' EquityAccounts payable$4,500Salaries payable11,500Bonds payable (Due in ten years)19,000Common stock, no par30,000Retained earnings15,650Total liabilities and stockholders' equity$80,650
What is the company's quick (acid-test) ratio?
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Comparative International Accounting
Authors: Christopher Nobes, Robert Parker
13th edition
1292081902, 1292081908, 9781292081960 , 1292081961, 978-1292081908
