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The following data is giv Cash Accounts receivable (net) Inventories Plant assets (net) Accounts payable Salaries and wages payable Bonds payable 8% Preferred stock, $40 par Common stock, $10 par Paid-in capital in excess of par Retained earnings Net credit sales Cost of goods sold Net income Instruction: Compute the acid-test ratio. December 31, 2021 $ 56,000 100,000 90,000 383,000 55,000 10,000 70,000 100,000 120,000 80,000 194,000 900,000 600,000 63,000 2020 $ 50,000 60,000 110,000 325,000 40,000 5,000 70,000 100,000 90,000 65,000 175,000

The following data is giv Cash Accounts receivable (net) Inventories Plant assets (net) Accounts payable Salaries and wages payable Bonds payable 8% Preferred stock, $40 par Common stock, $10 par Paid-in capital in excess of par Retained earnings Net credit sales Cost of goods sold Net income Instruction: Compute the acid-test ratio. December 31, 2021 $ 56,000 100,000 90,000 383,000 55,000 10,000 70,000 100,000 120,000 80,000 194,000 900,000 600,000 63,000 2020 $ 50,000 60,000 110,000 325,000 40,000 5,000 70,000 100,000 90,000 65,000 175,000

FINANCIAL ACCOUNTING
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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Please help me with show all calculation thanku 

The following data is given: Cash Accounts receivable (net) Inventories Plant assets (net) Accounts payable Salaries and wages payable Bonds payable 8% Preferred stock, $40 par Common stock, $10 par Paid-in capital in excess of par Retained earnings Net credit sales Cost of goods sold Net income Instruction: Compute the acid-test ratio. December 31. 2021 $ 56,000 100,000 90,000 383,000 55,000 10,000 70,000 100,000 120,000 80,000 194,000 900,000 600,000 63,000 2020 $ 50,000 60,000 110,000 325,000 40,000 5,000 70,000 100,000 90,000 65,000 175,000
Transcribed Image Text:The following data is given: Cash Accounts receivable (net) Inventories Plant assets (net) Accounts payable Salaries and wages payable Bonds payable 8% Preferred stock, $40 par Common stock, $10 par Paid-in capital in excess of par Retained earnings Net credit sales Cost of goods sold Net income Instruction: Compute the acid-test ratio. December 31. 2021 $ 56,000 100,000 90,000 383,000 55,000 10,000 70,000 100,000 120,000 80,000 194,000 900,000 600,000 63,000 2020 $ 50,000 60,000 110,000 325,000 40,000 5,000 70,000 100,000 90,000 65,000 175,000
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