Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Williams Ltd has current assets of 55,000, which includes inventory worth 15,000. Current liabilities are 35,000 and overall net assets are 120,000. What is the

Williams Ltd has current assets of 55,000, which includes inventory worth 15,000. Current liabilities are 35,000 and overall net assets are 120,000. What is the acid test ratio for Williams Ltd?

a)1.14:1

b)1.57:1

c)2:1

d)1:1

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Equity Asset Valuation

Authors: Jerald E. Pinto, Elaine Henry, Thomas R. Robinson, John D. Stowe, Abby Cohen

2nd Edition

ISBN: 470571439, 470571438, 9781118364123 , 978-0470571439

More Books

Students also viewed these Accounting questions

Question

Complete a work sheet for a corporation.

Answered: 1 week ago

Question

Discuss the roles of metacognition in learning and remembering.

Answered: 1 week ago

Question

5. Give some examples of hidden knowledge.

Answered: 1 week ago