Based on the following data, what is the amount of quick assets? Accounts payable $30,000 Accounts receivable 45,000 Accrued liabilities 7,000 Cash 20,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 100,000 Long-term liabilities 75,000 Notes payable (short-term) 20,000 Property, plant, and equipment 625,000 Prepaid expenses 2,000 Temporary investments 36,000 O a. $173,000 Ob. $175,000 O c. $101,000 O d. $65,000

Based on the following data, what is the amount of quick assets? Accounts payable $30,000 Accounts receivable 45,000 Accrued liabilities 7,000 Cash 20,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 100,000 Long-term liabilities 75,000 Notes payable (short-term) 20,000 Property, plant, and equipment 625,000 Prepaid expenses 2,000 Temporary investments 36,000 O a. $173,000 Ob. $175,000 O c. $101,000 O d. $65,000

Name: ### Quick Assets CalculationThis exercise is designed to help you und
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Description: ### Quick Assets CalculationThis exercise is designed to help you understand the concept of quick assets and how to calculate them using financial data. Quick assets are a category of assets that can be quickly converted into cash without significan

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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Accounts payable $ 40,000 Accounts receivable 65,000 Accrued liabilities 7,000 Cash 30,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 110,000 Long-term liabilities 75,000 Marketable securities 36,000 Notes payable (short-term) 30,000 Property, plant, and equipment 625,000 Prepaid expenses 2,000 Based on the above data, what is the amount of working capital? Group of answer choices
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Use the information provided for Privett Company to answer the question that follow. Privett Company Accounts payable $30,000 Accounts receivable 35,000 Accrued liabilities 7,000 Cash 25,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 100,000 Long-term liabilities 75,000 Notes payable (short-term) 20,000 Property, plant, and equipment 400,000 Prepaid expenses 2,000 Temporary investments 36,000 Based on the data for Privett Company, what is the amount of quick assets? a.$168,000 b.$96,000 c.$61,000 d.$60,000
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