Provide answer general Accounting question ABC Corporation had total quick assets of$6,700,000, current assets of $12,000,000, andcurrent liabilities of $8,500,000. Its acid-test ratioequals:a. 0.56b. 1.56C. 2.20d. 0.71e. 0.79

Step 1: Define Quick RatioThe quick ratio measures a business's short-term liquidity position. It…

Answered: ABC Corporation had total quick assets…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 15MCQ: Hummel Inc. has $30,000 in current assets and $15,000 in current liabilities. What is Hummels...

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XYZ Industries' total quick assets were $4,500,000, its current assets were $9,800,000, and its current liabilities were $5,000,000. Its acid-test ratio equals: a. 0.46 b. 0.90 c. 1.96 d. 1.20 e. 2.18
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ABC Corporation's total quick assets were $8,674,000, its current assets were $11,350,000, and its current liabilities were $7,850,000. Its acid-test ratio equals_.
Southern Style Realty has total assets of S485, 390, net fixed assets of $250,000, current liabilities of S 23,456, and long-term liabilities of $148.000. What is the total debt ratio? Multiple Choice .30.35.69.53.68.
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Resolve and explain the result of the current ratio for XYZ Company and compare andexplain this result with the Industry average, where current liabilities = $581,000 andcurrent assets = $832,000. a. Resolve the current ratio for XYZ Company b.Explain the result of the current ratio for XYZ Company c.Compare and explain the result of the current ratio for XYZ Company with the Industryaverage.

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ABC Corporation had total quick assets of $6,700,000, current assets of $12,000,000, and current liabilities of $8,500,000. Its acid-test ratio equals: a. 0.56 b. 1.56 C. 2.20 d. 0.71 e. 0.79