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
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
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
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
Definition Definition Money that the business will be receiving from its clients who have utilized the credit provided to buy its goods and services. The credit period typically lasts for a short term, lasting from a few days, a few months, to a year.
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