Answered: Cofy bearings has the given details for…

Cofy bearings has the given details for the year 2021 ending March 31. Total current liabilities= 240,000 Total current assets =450,000 Inventories=70,000 Prepaid expenses=20,000 Compute quick ratio.

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

Cofy bearings has the given details for the year 2021 ending March 31.
Total current liabilities= 240,000
Total current assets =450,000
Inventories=70,000
Prepaid expenses=20,000
Compute quick ratio.

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