8. Compute the acid-test (quick ratio) ratio using the following data: highlyliquid assets cash, AR, ST investmentA)B)C)D)1.151.241.331.86Answer: BCashInventoryAccounts ReceivableCurrent ratio$115,000105,00055,0002.00

Workings:Current ratio = Current assets / Current liabilitiesGiven,Current ratio = 2Current assets =…

8. Compute the acid-test (quick ratio) ratio using the following data: highly liquid assets cash, AR, ST investment A) B) D) 1.15 1.24 1.33 1.86 Cash Inventory Accounts Receivable Current ratio $115,000 105,000 55,000 2.00

8. Compute the acid-test (quick ratio) ratio using the following data: highly liquid assets cash, AR, ST investment A) B) D) 1.15 1.24 1.33 1.86 Cash Inventory Accounts Receivable Current ratio $115,000 105,000 55,000 2.00

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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