Answered: Pinnacle Tech Inc. had total quick…

Pinnacle Tech Inc. had total quick assets of $5,200,000, current assets of $8,500,000, and current liabilities of $6,000,000. Its acid- test ratio equals: a. 0.40 b. 0.87 c. 1.20 d. 1.45 e. 1.70

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

Please provide the accurate answer to this general accounting problem using valid techniques.

Pinnacle Tech Inc. had total quick assets of $5,200,000, current
assets of $8,500,000, and current liabilities of $6,000,000. Its acid-
test ratio equals:
a. 0.40
b. 0.87
c. 1.20
d. 1.45
e. 1.70

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