Adieu Company reported the following current assets and current liabilities for two recent years: Line Item Description Dec. 31, 20Y4 Dec. 31, 20Y3 Cash $950 $1,190 Temporary investments 1,200 1,400 Accounts receivable 850 910 Inventory 2,200 2,700 Accounts payable 2,000 2,500 a. Compute the quick ratio on December 31 for each year. Round your answers to one decimal place. Line Item Description 20Y4 20Y3 Quick Ratio fill in the blank 1 fill in the blank 2
Adieu Company reported the following current assets and current liabilities for two recent years: Line Item Description Dec. 31, 20Y4 Dec. 31, 20Y3 Cash $950 $1,190 Temporary investments 1,200 1,400 Accounts receivable 850 910 Inventory 2,200 2,700 Accounts payable 2,000 2,500 a. Compute the quick ratio on December 31 for each year. Round your answers to one decimal place. Line Item Description 20Y4 20Y3 Quick Ratio fill in the blank 1 fill in the blank 2
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Adieu Company reported the following current assets and current liabilities for two recent years:
| Line Item Description | Dec. 31, 20Y4 | Dec. 31, 20Y3 |
|---|---|---|
| Cash | $950 | $1,190 |
| Temporary investments | 1,200 | 1,400 |
| 850 | 910 | |
| Inventory | 2,200 | 2,700 |
| Accounts payable | 2,000 | 2,500 |
a. Compute the quick ratio on December 31 for each year. Round your answers to one decimal place.
| Line Item Description | 20Y4 | 20Y3 |
|---|---|---|
| Quick Ratio | fill in the blank 1 | fill in the blank 2 |
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