Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation Land Total assets Liabilities and Stockholders' Equity Accounts payable Salaries payable Bonds payable (Due in ten years) Common stock, no par Retained earnings $5,400 11,550 14,700 1,500 19,400 13,300 $65,850 $2,730 8,330 11,500 17,000 26.290
Assets Cash Accounts receivable Inventory Prepaid expenses Plant and equipment, net of depreciation Land Total assets Liabilities and Stockholders' Equity Accounts payable Salaries payable Bonds payable (Due in ten years) Common stock, no par Retained earnings $5,400 11,550 14,700 1,500 19,400 13,300 $65,850 $2,730 8,330 11,500 17,000 26.290
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Assets
Cash
Accounts receivable
Inventory
Prepaid expenses
Plant and equipment, net of depreciation
Land
Total assets
Liabilities and Stockholders' Equity
Accounts payable
Salaries payable
Bonds payable (Due in ten years)
Common stock, no par
Retained earnings
Total liabilities and stockholders' equity
$5,400
11,550
14,700
1,500
19,400
13,300
$65,850
$2,730
8,330
11,500
17,000
26,290
$65,850
What is the company's quick (acid-test) ratio? (Round your answer to 2 decimal places.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F13ae997d-8f13-4e4d-9970-4aa7e75899f7%2F25390a2b-c1b1-4a88-bd09-7d133d4a6efe%2Flkt9ufs_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Assets
Cash
Accounts receivable
Inventory
Prepaid expenses
Plant and equipment, net of depreciation
Land
Total assets
Liabilities and Stockholders' Equity
Accounts payable
Salaries payable
Bonds payable (Due in ten years)
Common stock, no par
Retained earnings
Total liabilities and stockholders' equity
$5,400
11,550
14,700
1,500
19,400
13,300
$65,850
$2,730
8,330
11,500
17,000
26,290
$65,850
What is the company's quick (acid-test) ratio? (Round your answer to 2 decimal places.)
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