Answered: Cash Cash Equivalents Accounts…

Business

Accounting

Cash Cash Equivalents Accounts Receivable Total current liabilities $ 10,000 8,850 3,700 29,000

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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Question

Espinoza Air Conditioning & Heating had the following select financial data as of June 30, 2018.

What is Espinoza’s cash ratio?

a. 0.34

b. 0.65

c. 0.78

d. 1.54

Cash
Cash Equivalents
Accounts Receivable
Total current liabilities
$ 10,000
8,850
3,700
29,000

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PLEASE DO PART D AND E, THANK YOU.
Based on this - what comments can I make on liquidity and solvency?
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