lem Set: Modx* CengageNOWv2 | Onl X* Cengage LearningB Milestone Two Guideli xG moduleow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=..eBookShow Me HowQuick ratioAdieu Company reported the following current assets and current liabilities for two recent years:Dec. 31, 20Y4 Dec. 31, 20Y3Cash$830$1,090Temporary investments1,2001,500Accounts receivable820910Inventory2,1002,500Accounts payable1,9002,500a. Compute the quick ratio on December 31 for each year. Round to one decimal place.20Υ420Υ3Quick Ratiob. Is the quick ratio improving or declining?Check My Work56°F Mostly39

Quick Ratio = Quick Assets / Current Liabilities 2013 Quick Assets = Cash + Temporary Investments +…

Answered: Accounts payable 1,900 a. Compute the…

Accounts payable 1,900 a. Compute the quick ratio on December 31 for each year. Round to one decimal place. 20Υ4 20Υ3 Quick Ratio b. Is the quick ratio improving or declining?

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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Question

lem Set: Modx
* CengageNOWv2 | Onl X
* Cengage Learning
B Milestone Two Guideli x
G module
ow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=..
eBook
Show Me How
Quick ratio
Adieu Company reported the following current assets and current liabilities for two recent years:
Dec. 31, 20Y4 Dec. 31, 20Y3
Cash
$830
$1,090
Temporary investments
1,200
1,500
Accounts receivable
820
910
Inventory
2,100
2,500
Accounts payable
1,900
2,500
a. Compute the quick ratio on December 31 for each year. Round to one decimal place.
20Υ4
20Υ3
Quick Ratio
b. Is the quick ratio improving or declining?
Check My Work
56°F Mostly
39

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