Hii expert please provide correct answer general Accounting Question:The quick ratio is 0.81. Current assets are$103,000 and current liabilities are $79,000.What is the amount in the inventory account?

Step 1: Define InventoryInventory can be defined as a current asset because it can be converted into…

Answered: Question: The quick ratio is 0.81.…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business

Section: Chapter Questions

Problem 5MC

See similar textbooks

Similar questions

Financial accounting question
Please provide this question answer general accounting
Need answer the accounting question
If beginning inventory is $1,998, ending inventory is $1,407 and cost of goods sold is $11,158, how much is purchases?
How much was the ending inventory last accounting period?
What is the value of beginning inventory?
What is it's level of inventory on this accounting question?
1. a. The quick ratio is 0.09, cash is $10,000 and accounts receivable are $25,000. Accounts payable are $40,000, and accrued payroll is $15,000. What is the amount in the inventory account?
Compute the Quick ratio if Current Assets: 10.354; Current Liabilities: 6.615; Inventory: 5.767; Cash: 1.013.a) 0.69 timesb) 0.75 timesc) 0.72 timesd) 0.15 times
Please need answer the general accounting question
Use LIFO to determine the cost of the ending inventory. Assume 35 FitBits in inventory at the end of the year b. was the Cost of Goods Sold (COGS)?
1. Inventory turnover is calculated as __________ divided by __________. cost of goods sold; inventory cost of goods sold; average inventory cost of goods sold; total assets average inventory; cost of goods sold 2. The number of days’ sales in inventory is calculated as __________ divided by __________. average inventory; average daily cost of goods sold ending inventory; cost of goods sold net income; sales cost of goods sold; average inventory

SEE MORE QUESTIONS

Recommended textbooks for you

College Accounting, Chapters 1-27

Accounting

ISBN:

9781337794756

Author:

HEINTZ, James A.

Publisher:

Cengage Learning,

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

College Accounting, Chapters 1-27

Accounting

ISBN:

9781337794756

Author:

HEINTZ, James A.

Publisher:

Cengage Learning,

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

SEE MORE TEXTBOOKS

Question: The quick ratio is 0.81. Current assets are $103,000 and current liabilities are $79,000. What is the amount in the inventory account?