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
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
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, rounded to one decimal point?
| Accounts payable |
$ 30,000 |
|
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 |
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