Use the information below for Harding Company to answer the question that follow.Harding CompanyAccounts payable$35,479Accounts receivable69,658Accrued liabilities6,342Cash21,866Intangible assets40,636Inventory81,299Long-term investments116,464Long-term liabilities78,760Marketable securities34,728Notes payable (short-term)21,173Property, plant, and equipment607,986Prepaid expenses2,827Based on the data for Harding Company, what is the amount of quick assets?a.$56,594b.$126,252c.$1,510,965d.$745,879

Answered: Use the information below for Harding…

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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Use the information below for Harding Company to answer the question that follow.

Harding Company
Accounts payable	$35,479
Accounts receivable	69,658
Accrued liabilities	6,342
Cash	21,866
Intangible assets	40,636
Inventory	81,299
Long-term investments	116,464
Long-term liabilities	78,760
Marketable securities	34,728
Notes payable (short-term)	21,173
Property, plant, and equipment	607,986
Prepaid expenses	2,827

Based on the data for Harding Company, what is the amount of quick assets?

a.$56,594

b.$126,252

c.$1,510,965

d.$745,879

Expert Solution

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$Q u i c k a s s e t s i n c l u d e c a s h o n h a n d o r c u r r e n t a s s e t s s u c h a s r e c e i v a b l e a c c o u n t s t h a t c a n b e c o n v e r t e d t o c a s h w i t h l i t t l e t o n o d i s c o u n t i n g .$

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