Question
What is the quick ratio for Elise Catering Services, rounded to one decimal point based on the following data. Accounts payable $ 30,000 Accounts receivable
What is the quick ratio for Elise Catering Services, rounded to one decimal point based on the following data.
| Accounts payable | $ 30,000 |
| Accounts receivable | 65,000 |
| Accrued liabilities | 7,000 |
| Cash | 20,000 |
| Intangible assets | 40,000 |
| Inventory | 72,000 |
| Long-term investments | 100,000 |
| Long-term liabilities | 75,000 |
| Marketable securities | 36,000 |
| Notes payable (short-term) | 20,000 |
| Property, plant, and equipment | 625,000 |
| Prepaid expenses | 2,000 |
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College Accounting A Contemporary Approach
Authors: David Haddock, John Price, Michael Farina
4th edition
978-1259995057, 1259995054, 978-0077503987, 77503988, 978-0077639730
