Harding Co Line Item Description Amount Accounts payable $40,000 Accounts receivable 65,000 Accrued liabilities 7,000 Cash 30,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 110,000 Long-term liabilities 75,000 Marketable securities 36,000 Notes payable (short-term) 30,000 Prepaid expenses 2,000 Property, plant, and equipment 625,000 Based on the data for Harding Co, what is the quick ratio?
Harding Co Line Item Description Amount Accounts payable $40,000 Accounts receivable 65,000 Accrued liabilities 7,000 Cash 30,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 110,000 Long-term liabilities 75,000 Marketable securities 36,000 Notes payable (short-term) 30,000 Prepaid expenses 2,000 Property, plant, and equipment 625,000 Based on the data for Harding Co, what is the quick ratio?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Harding Co
| Line Item Description | Amount |
|---|---|
| Accounts payable | $40,000 |
| 65,000 | |
| Accrued liabilities | 7,000 |
| Cash | 30,000 |
| Intangible assets | 40,000 |
| Inventory | 72,000 |
| Long-term investments | 110,000 |
| Long-term liabilities | 75,000 |
| Marketable securities | 36,000 |
| Notes payable (short-term) | 30,000 |
| Prepaid expenses | 2,000 |
| Property, plant, and equipment | 625,000 |
Based on the data for Harding Co, what is the quick ratio?
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