Lunar Edge Corporation reported the following for the year: Quick Assets: $3,200,000 • Current Assets: $7,100,000 • Current Liabilities: $4,000,000 What is Lunar Edge Corporation's acid-test ratio? a. 0.80 b. 1.50 c. 1.78 d. 0.45

Lunar Edge Corporation reported the following for the year: Quick Assets: $3,200,000 • Current Assets: $7,100,000 • Current Liabilities: $4,000,000 What is Lunar Edge Corporation's acid-test ratio? a. 0.80 b. 1.50 c. 1.78 d. 0.45

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 15MCQ: Hummel Inc. has $30,000 in current assets and $15,000 in current liabilities. What is Hummels...

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Question

I am searching for the correct answer to this general accounting problem with proper accounting rules.

Lunar Edge Corporation reported the following for the year:
Quick Assets: $3,200,000
•
Current Assets: $7,100,000
•
Current Liabilities: $4,000,000
What is Lunar Edge Corporation's acid-test ratio?
a. 0.80
b. 1.50
c. 1.78
d. 0.45

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