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Skaxo has cash of $62, accounts receivable of $148, accounts payable of $230, inventory of $301, long-term debt of $856, and no short-term debt. What is the value of the quick ratio?

Skaxo has cash of $62, accounts receivable of $148, accounts payable of $230, inventory of $301, long-term debt of $856, and no short-term debt. What is the value of the quick ratio?

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter8: Current And Contingent Liabilities
Section: Chapter Questions
Problem 33CE: Liquidity Ratios NWAs financial statements contain the following information: Note: Round answers to...
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Skaxo has cash of $62, accounts receivable of $148, accounts payable of $230, inventory of $301, long-term debt of $856, and no short-term debt. What is the value of the quick ratio?
Transcribed Image Text:Skaxo has cash of $62, accounts receivable of $148, accounts payable of $230, inventory of $301, long-term debt of $856, and no short-term debt. What is the value of the quick ratio?
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