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Adieu Company reported the following current assets and current liabilities for two recent years: Cash Dec. 31, 20Y4 Dec. 31, 20Y3 $870 1,200 810 2,200 Temporary investments Accounts receivable Inventory 2,600 Accounts payable 1,800 2,500 a. Compute the quick ratio on December 31 for each year. Round to one decimal place. 20Y4 Quick Ratio fill in the blank 1 b. Is the quick ratio improving or declining? 20Y3 $1,310 fill in the blank 2 1,500 940

Adieu Company reported the following current assets and current liabilities for two recent years: Cash Dec. 31, 20Y4 Dec. 31, 20Y3 $870 1,200 810 2,200 Temporary investments Accounts receivable Inventory 2,600 Accounts payable 1,800 2,500 a. Compute the quick ratio on December 31 for each year. Round to one decimal place. 20Y4 Quick Ratio fill in the blank 1 b. Is the quick ratio improving or declining? 20Y3 $1,310 fill in the blank 2 1,500 940

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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Quick ratio Adieu Company reported the following current assets and current liabilities for two recent years: Cash Temporary investments Accounts receivable Dec. 31, 20Y4 Dec. 31, 20Y3 $870 1,200 810 2,200 Inventory Accounts payable 1,800 2,500 a. Compute the quick ratio on December 31 for each year. Round to one decimal place. 20Y4 Quick Ratio fill in the blank 1 b. Is the quick ratio improving or declining? 20Y3 $1,310 1,500 940 fill in the blank 2 2,600
Transcribed Image Text:Quick ratio Adieu Company reported the following current assets and current liabilities for two recent years: Cash Temporary investments Accounts receivable Dec. 31, 20Y4 Dec. 31, 20Y3 $870 1,200 810 2,200 Inventory Accounts payable 1,800 2,500 a. Compute the quick ratio on December 31 for each year. Round to one decimal place. 20Y4 Quick Ratio fill in the blank 1 b. Is the quick ratio improving or declining? 20Y3 $1,310 1,500 940 fill in the blank 2 2,600
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