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ased on the following data, what is the quick ratio (rounded to one decimal point)? ​ Accounts payable $ 30,000 Accounts receivable 60,000 Accrued liabilities 5,000 Cash 30,000 Intangible assets 50,000 Inventory 69,000

ased on the following data, what is the quick ratio (rounded to one decimal point)? ​ Accounts payable $ 30,000 Accounts receivable 60,000 Accrued liabilities 5,000 Cash 30,000 Intangible assets 50,000 Inventory 69,000

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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  1. Based on the following data, what is the quick ratio (rounded to one decimal point)?

    ​

    Accounts payable

    $ 30,000
    Accounts receivable

    60,000
    Accrued liabilities

    5,000
    Cash

    30,000
    Intangible assets

    50,000
    Inventory

    69,000
    Long-term investments

    80,000
    Long-term liabilities

    100,000
    Marketable securities

    30,000
    Fixed assets

    670,000
    Prepaid expenses

    1,000

    ​

      a.
    3.4
      b.
    1.8
      c.
    3.0
      d.
    2.2
Based on the following data, what is the quick ratio (rounded to one decimal point)? Accounts payable $ 30,000 Accounts receivable 60,000 Accrued liabilities 5,000 Cash 30,000 Intangible assets 50,000 Inventory 69,000 Long-term investments 80,000 Long-term liabilities 100,000 Marketable securities 30,000 Fixed assets 670,000 Prepaid expenses 1,000 а. 3.4 b. 1.8 с. 3.0 O d. 2.2
Transcribed Image Text:Based on the following data, what is the quick ratio (rounded to one decimal point)? Accounts payable $ 30,000 Accounts receivable 60,000 Accrued liabilities 5,000 Cash 30,000 Intangible assets 50,000 Inventory 69,000 Long-term investments 80,000 Long-term liabilities 100,000 Marketable securities 30,000 Fixed assets 670,000 Prepaid expenses 1,000 а. 3.4 b. 1.8 с. 3.0 O d. 2.2
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