Selected financial data from Crew Restaurant is provided below.CashAccounts ReceivableFood InventoryShort-Term InvestmentsLand and BuildingCurrent Portion of Long-Term Debt $34,000Accounts Payable$123,000Calculate the quick ratio.3.492.1405.11$64,000$235,000$267,000$37,000$519,000O2.98

Quick ratio is calculated by dividing the quick assets by the total current liabilities. Quick ratio…

Selected financial data from Crew Restaurant is provided below. $64.000 $235,000 $267,000 Short-Term Investments $37,000 Land and Building $519,000 Current Portion of Long-Term Debt $34.000 Accounts Payable $123,000 Cash Accounts Receivable Food Inventory Calculate the quick ratio. 3.49 2.14 5.11 2.98

Selected financial data from Crew Restaurant is provided below. $64.000 $235,000 $267,000 Short-Term Investments $37,000 Land and Building $519,000 Current Portion of Long-Term Debt $34.000 Accounts Payable $123,000 Cash Accounts Receivable Food Inventory Calculate the quick ratio. 3.49 2.14 5.11 2.98

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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Question

Selected financial data from Crew Restaurant is provided below.
Cash
Accounts Receivable
Food Inventory
Short-Term Investments
Land and Building
Current Portion of Long-Term Debt $34,000
Accounts Payable
$123,000
Calculate the quick ratio.
3.49
2.14
05.11
$64,000
$235,000
$267,000
$37,000
$519,000
O2.98

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