Beacon Corp has the following financial data: • Cash: $75 Accounts receivable: $180 Accounts payable: $290 ⚫ Inventory: $350 Long-term debt: $920 No short-term debt What is the quick ratio?

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 3MC: The following is selected financial data from Block Industries: How much does Block Industries have...
icon
Related questions
Question

Sub general accounting

Beacon Corp has the following financial
data:
•
Cash: $75
Accounts receivable: $180
Accounts payable: $290
⚫ Inventory: $350
Long-term debt: $920
No short-term debt
What is the quick ratio?
Transcribed Image Text:Beacon Corp has the following financial data: • Cash: $75 Accounts receivable: $180 Accounts payable: $290 ⚫ Inventory: $350 Long-term debt: $920 No short-term debt What is the quick ratio?
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning