Harding Company Accounts payable Accounts receivable $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 Property, plant, and equipment 2,000 625,000 Based on the data for Harding Company, what is the quick ratio? a. 0.9 b. 1.7 c. 2.7 d. 2.6
Harding Company Accounts payable Accounts receivable $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 Property, plant, and equipment 2,000 625,000 Based on the data for Harding Company, what is the quick ratio? a. 0.9 b. 1.7 c. 2.7 d. 2.6
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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answer must be in proper format
Transcribed Image Text:Harding Company
Accounts payable
Accounts receivable
$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
Property, plant, and equipment
2,000
625,000
Based on the data for Harding Company, what is the quick ratio?
a. 0.9
b. 1.7
c. 2.7
d. 2.6
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