Quick Patio Adieu Company reported the following current assets and current liabilities for two recent years: Dec. 31, 20Y4 Dec. 31, 20Y3 Cash Temporary investments Accounts receivable $960 1,200 840 20Y4 Inventory 2,100 2,600 Accounts payable 2,000 2,500 a. Compute the quick ratio on December 31 for each year. Round to one decimal place. 20Y3 $1,080 1,500 920 Quick Ratio b. Is the quick ratio improving or declining? Improving

Quick Patio Adieu Company reported the following current assets and current liabilities for two recent years: Dec. 31, 20Y4 Dec. 31, 20Y3 Cash Temporary investments Accounts receivable $960 1,200 840 20Y4 Inventory 2,100 2,600 Accounts payable 2,000 2,500 a. Compute the quick ratio on December 31 for each year. Round to one decimal place. 20Y3 $1,080 1,500 920 Quick Ratio b. Is the quick ratio improving or declining? Improving

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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