Need general accounting question ⁉️ The following data were abstracted from the 2014 December 31, balance sheetof Andrews Company:Cash$136,000Marketable securities$64,000Accounts and notes receivable, net$184,000Merchandise inventory$244,000Prepaid expenses$12,000Accounts and notes payable, short-term $256,000Short-term accrued liabilitiesBonds payable, long-termThe acid-test ratio is:a. 1.2:1.b. 3:1.C. 2:1.d. 1:2.$64,000$400,000

Step 1: Define Acid-Test RatioThe acid test, or quick ratio is a stricter form of the current ratio…

Answered: The following data were abstracted from…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 4PB

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