Quick ratioAdieu Company reported the following current assets and current liabilities for two recent years:Cash Dec. 31, 20Y4 Dec. 31, 20Y3$1,000$1,140 Temporary investments1, 2001, 400Accounts receivable800910 InventoryAccounts payable 2, 2001, 8752, 6002, 300a. Compute the quick ratio on December 31 for each year. Round your answers to one decimal place.20Y420Y3Quick Ratiob. Is the quick ratio improving or declining?

Quick ratioAdieu Company reported the following current assets and current liabilities for two recent years:Cash Dec. 31, 20Y4 Dec. 31, 20Y3$1,000$1,140 Temporary investments1, 2001, 400Accounts receivable800910 InventoryAccounts payable 2, 2001, 8752, 6002, 300a. Compute the quick ratio on December 31 for each year. Round your answers to one decimal place.20Y420Y3Quick Ratiob. Is the quick ratio improving or declining?

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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