The December 31 balance sheet of lyer Company includes the following int Inventory Prepaid Expenses Total Current Assets Total Current Liabilities Accounts Payable What is lyer's quick ratio at December 31? Select one: $750,000 60,000 1,800,000 875,000 540,000 a. 1.85 b. 1.13 c. 2.57 d. 0.80

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is