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Gainer Laundry Services has the following financial data: • Inventory: $2,100 • • • Accounts Payable: $5,000 Cash: $2,400 Accounts Receivable: $4,300 What is the cash ratio? a. 0.38 b. 0.48 c. 0.52 d. 0.75

Gainer Laundry Services has the following financial data: • Inventory: $2,100 • • • Accounts Payable: $5,000 Cash: $2,400 Accounts Receivable: $4,300 What is the cash ratio? a. 0.38 b. 0.48 c. 0.52 d. 0.75

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....
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What is the cash ratio of this financial accounting question?

Gainer Laundry Services has the following financial data: • Inventory: $2,100 • • • Accounts Payable: $5,000 Cash: $2,400 Accounts Receivable: $4,300 What is the cash ratio? a. 0.38 b. 0.48 c. 0.52 d. 0.75
Transcribed Image Text:Gainer Laundry Services has the following financial data: • Inventory: $2,100 • • • Accounts Payable: $5,000 Cash: $2,400 Accounts Receivable: $4,300 What is the cash ratio? a. 0.38 b. 0.48 c. 0.52 d. 0.75
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