1. a. The quick ratio is 0.09, cash is $10,000 and accounts receivable are $25,000. Accounts payable are $40,000, and accrued payroll is $15,000. What is the amount in the inventory account?
1. a. The quick ratio is 0.09, cash is $10,000 and accounts receivable are $25,000. Accounts payable are $40,000, and accrued payroll is $15,000. What is the amount in the inventory account?
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business
Section: Chapter Questions
Problem 5TF: LO4 Accounts receivable turnover is the number of times merchandise inventory turned over or was...
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a. The quick ratio is 0.09, cash is $10,000 and accounts receivable are $25,000.
Accounts payable are $40,000, and accrued payroll is $15,000. What is the amount in
the inventory account?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa474c3f0-5821-421c-8978-30d5f81397ac%2Faafed648-3c84-47b3-b32f-f20093ff7bfc%2Fsgz6y1h_processed.jpeg&w=3840&q=75)
Transcribed Image Text:1.
a. The quick ratio is 0.09, cash is $10,000 and accounts receivable are $25,000.
Accounts payable are $40,000, and accrued payroll is $15,000. What is the amount in
the inventory account?
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