Quick Ratio Aloha Company reported the following current assets and liabilities for December 31 for two recent years: Dec. 31, Dec. 31, Current Year Previous Year Cash $1,760 $1,680 Temporary investments 2,130 2,090 Accounts receivable 1,430 1,330 Inventory 3,880 3,420 Accounts payable 2,800 3,400 Required: a. Compute the quick ratio on December 31 of both years. If required, round your answers to one decimal place. Quick Ratio December 31, current year December 31, previous year b. Is the quick ratio improving or declining? Improving v

Quick Ratio Aloha Company reported the following current assets and liabilities for December 31 for two recent years: Dec. 31, Dec. 31, Current Year Previous Year Cash $1,760 $1,680 Temporary investments 2,130 2,090 Accounts receivable 1,430 1,330 Inventory 3,880 3,420 Accounts payable 2,800 3,400 Required: a. Compute the quick ratio on December 31 of both years. If required, round your answers to one decimal place. Quick Ratio December 31, current year December 31, previous year b. Is the quick ratio improving or declining? Improving v

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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