The balance sheet of Vanguard Supplies Inc. reports the following: Description Cash Amount ($) $400,000 Accounts Receivable $350,000 Inventory $250,000 Marketable Securities $150,000 Current Liabilities $450,000 Long-Term Liabilities $900,000 Based on the information provided, calculate the quick ratio: a. 2.00 b. 2.20 c. 2.25 d. 1.89

The balance sheet of Vanguard Supplies Inc. reports the following: Description Cash Amount ($) $400,000 Accounts Receivable $350,000 Inventory $250,000 Marketable Securities $150,000 Current Liabilities $450,000 Long-Term Liabilities $900,000 Based on the information provided, calculate the quick ratio: a. 2.00 b. 2.20 c. 2.25 d. 1.89

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity

Section: Chapter Questions

Problem 16P: Ratios Analyses: McCormick Refer to the information for McCormick above. Additional information for...

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