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a. Determine the quick ratio for both companies. If required, round your answers to one decimal place. Quick Ratio Apple Inc.t 1.0 HP, Inc.:

a. Determine the quick ratio for both companies. If required, round your answers to one decimal place. Quick Ratio Apple Inc.t 1.0 HP, Inc.:

FINANCIAL ACCOUNTING
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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The current assets and current labilities for Apple Inc and HP, Inc., are as follows at the end of a recent fiscal period: Apple Inc. HP, Inc. (in millions) (in millions) Current assets: Cash and cash equivalents $21,120 $17,433 Short-term investments 20,481 Accounts receivable 35,889 16,281 Inventories 2,349 6,485 9,539 11,588 Other current assets $89,378 $51,787 Total current assets Current liabilities: $60,671 $32,41E Accounts payable 19,939 9,773 Accrued and other current liabilities Total current liabilities $80,610 $42,191 *These represent prepaid expense and other nonquick current assets. a. Determine the quick ratio for both companies. If required, round your answers to one decimal place. Quick Ratio 1.0 Apple Inc.: HP, Inc.:
Transcribed Image Text:The current assets and current labilities for Apple Inc and HP, Inc., are as follows at the end of a recent fiscal period: Apple Inc. HP, Inc. (in millions) (in millions) Current assets: Cash and cash equivalents $21,120 $17,433 Short-term investments 20,481 Accounts receivable 35,889 16,281 Inventories 2,349 6,485 9,539 11,588 Other current assets $89,378 $51,787 Total current assets Current liabilities: $60,671 $32,41E Accounts payable 19,939 9,773 Accrued and other current liabilities Total current liabilities $80,610 $42,191 *These represent prepaid expense and other nonquick current assets. a. Determine the quick ratio for both companies. If required, round your answers to one decimal place. Quick Ratio 1.0 Apple Inc.: HP, Inc.:
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