Calculate the quick assets (in $) and acid test ratio for the given company. Round ratios to the nearest hundredth. Company Current Assets Current Liabilities Cash Marketable Securities Accounts Receivable Quick Assets Acid Test Ratio a retail grocery chain $451,000 $131,000 $37,350 $93,000 $54,770 $ :1
Calculate the quick assets (in $) and acid test ratio for the given company. Round ratios to the nearest hundredth. Company Current Assets Current Liabilities Cash Marketable Securities Accounts Receivable Quick Assets Acid Test Ratio a retail grocery chain $451,000 $131,000 $37,350 $93,000 $54,770 $ :1
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Calculate the quick assets (in $) and acid test ratio for the given company. Round ratios to the nearest hundredth.
| Company | Current Assets |
Current Liabilities |
Cash | Marketable Securities |
Accounts Receivable |
Quick Assets |
Acid Test Ratio |
|---|---|---|---|---|---|---|---|
| a retail grocery chain | $451,000 | $131,000 | $37,350 | $93,000 | $54,770 | $ | :1 |
Expert Solution
Step 1
Given information:
Current assets amounted to $451,000
Current liabilities $131,000
Cash is $37,350
Marketable securities $93,000
Accounts receivables is $54,770
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