Pritchett Company reported the following year-end data:CashShort-term investmentsAccounts receivable (current)InventoryPrepaid (current) assetsTotal current 1iabilities$ 20, 1008, 50013,40024, 0006,80028, 000Compute the (a) current ratio and ( acid-test ratio.Complete this question by entering your answers in the tabs below.Currlat Ratio Acid Test RatioCompute the current ratio.Current RatioCurrent RatioNumerator:Denominator:Current assetsCurrent liabilitiesCurrent ratio72.800%2428,0002.6 to 1%3Acid Test Ratio>

Name: Pritchett Company reported the following year-end data:CashShort-term
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Description: Pritchett Company reported the following year-end data:CashShort-term investmentsAccounts receivable (current)InventoryPrepaid (current) assetsTotal current 1iabilities$ 20, 1008, 50013,40024, 0006,80028, 000Compute the (a) current ratio and ( acid-

The current ratio is calculated by dividing the current assets by the current liabilities of the…

Business

Accounting

Pritchett Company reported the followtng year-end data: $ 20,100 8, 500 13,400 24,000 6,800 28,000 Cash Short-tere investsents Accounts receivable (current) Inventory Prepaid (current) assets Total current liabilities Compute the (a current ratio and (b acid-test ratio.

Pritchett Company reported the followtng year-end data: $ 20,100 8, 500 13,400 24,000 6,800 28,000 Cash Short-tere investsents Accounts receivable (current) Inventory Prepaid (current) assets Total current liabilities Compute the (a current ratio and (b acid-test ratio.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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