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Based on the following data, what is the quick ratio? Accounts payable $22,000 Accounts receivable 46,000 Accrued liabilities 7,000 Cash 30,000 40,000 70,000 100,000 75,000 10,000 625,000 3,000 44,900 Intangible assets Inventory Long-term investments Long-term liabilities Notes payable (short-term) Property, plant, and equipment Prepaid expenses Temporary investments a. 4.0 O b. 3.1

Based on the following data, what is the quick ratio? Accounts payable $22,000 Accounts receivable 46,000 Accrued liabilities 7,000 Cash 30,000 40,000 70,000 100,000 75,000 10,000 625,000 3,000 44,900 Intangible assets Inventory Long-term investments Long-term liabilities Notes payable (short-term) Property, plant, and equipment Prepaid expenses Temporary investments a. 4.0 O b. 3.1

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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Based on the following data, what is the quick ratio? Accounts payable $22,000 Accounts receivable 46,000 Accrued liabilities 7,000 Cash 30,000 40,000 70,000 100,000 75,000 10,000 625,000 3,000 44,900 Intangible assets Inventory Long-term investments Long-term liabilities Notes payable (short-term) Property, plant, and equipment Prepaid expenses Temporary investments a. 4.0 O b. 3.1 O c. 5.0 d. 1.0
Transcribed Image Text:Based on the following data, what is the quick ratio? Accounts payable $22,000 Accounts receivable 46,000 Accrued liabilities 7,000 Cash 30,000 40,000 70,000 100,000 75,000 10,000 625,000 3,000 44,900 Intangible assets Inventory Long-term investments Long-term liabilities Notes payable (short-term) Property, plant, and equipment Prepaid expenses Temporary investments a. 4.0 O b. 3.1 O c. 5.0 d. 1.0
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