Tressler Dry Cleaners has an inventory of $1,700, accounts payable of $4,200, cash of $1,950, and accounts receivable of $3,680. What is the cash ratio? a. 0.24 b. 0.46 c. 0.53 d. 0.98 e. 1.34
Tressler Dry Cleaners has an inventory of $1,700, accounts payable of $4,200, cash of $1,950, and accounts receivable of $3,680. What is the cash ratio? a. 0.24 b. 0.46 c. 0.53 d. 0.98 e. 1.34
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
What is the cash ratio for this financial accounting?
![Tressler Dry Cleaners has an inventory of $1,700, accounts payable of $4,200,
cash of $1,950, and accounts receivable of $3,680.
What is the cash ratio?
a. 0.24
b. 0.46
c. 0.53
d. 0.98
e. 1.34](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc374f1ba-a6dc-43fb-b470-706f637c83f1%2Faed6e46e-cb4c-4dbb-9183-780730efeb45%2Fkx8x6nn_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Tressler Dry Cleaners has an inventory of $1,700, accounts payable of $4,200,
cash of $1,950, and accounts receivable of $3,680.
What is the cash ratio?
a. 0.24
b. 0.46
c. 0.53
d. 0.98
e. 1.34
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