The partial balance sheet ($ in thousands) for Pizzeria Ristorante is presented below. Assets Liabilities and Equity Current assets: Current liabilities: Cash $ 60 Accounts payable $ 240 Accounts receivable (net) 170 Other liabilities 80 Notes receivable 50 Total current liabilities 320 Inventories 200 Long-term liabilities 110 Prepaid expenses 25 Total liabilities 430 Total current assets 505 Shareholders' equity: Plant assets (net) 255 Capital stock 150 Retained earnings 180 Total shareholders' equity 330 Total assets $ 760 Total liabilities and equity $ 760 Calculate the firm's acid-test ratio is (Round your answer to two decimal places.). Show your work.
The partial balance sheet ($ in thousands) for Pizzeria Ristorante is presented below. Assets Liabilities and Equity Current assets: Current liabilities: Cash $ 60 Accounts payable $ 240 Accounts receivable (net) 170 Other liabilities 80 Notes receivable 50 Total current liabilities 320 Inventories 200 Long-term liabilities 110 Prepaid expenses 25 Total liabilities 430 Total current assets 505 Shareholders' equity: Plant assets (net) 255 Capital stock 150 Retained earnings 180 Total shareholders' equity 330 Total assets $ 760 Total liabilities and equity $ 760 Calculate the firm's acid-test ratio is (Round your answer to two decimal places.). Show your work.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
The partial
|
Assets |
|
|
|
Liabilities and Equity |
|
|
|
|
Current assets: |
|
|
|
Current liabilities: |
|
|
|
|
Cash |
$ |
60 |
|
Accounts payable |
$ |
240 |
|
|
|
|
170 |
|
Other liabilities |
|
80 |
|
|
Notes receivable |
|
50 |
|
Total current liabilities |
|
320 |
|
|
Inventories |
|
200 |
|
Long-term liabilities |
|
110 |
|
|
Prepaid expenses |
|
25 |
|
Total liabilities |
|
430 |
|
|
Total current assets |
|
505 |
|
Shareholders' equity: |
|
|
|
|
Plant assets (net) |
|
255 |
|
Capital stock |
|
150 |
|
|
|
|
|
|
|
|
180 |
|
|
|
|
|
|
Total shareholders' equity |
|
330 |
|
|
Total assets |
$ |
760 |
|
Total liabilities and equity |
$ |
760 |
|
Calculate the firm's acid-test ratio is (Round your answer to two decimal places.). Show your work.
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