What is the company's quick ratioA. 1.79B. 1.41C. 2.06D. 1.38 Refer to the Balance Sheet, what is the company's quick ratio?TABLE P3.2 Balance Sheet, Cyclone Construction Co. (31 December 2012)Assets(a) Current assetsCash on hand and on depositNotes receivable, current -$389,927.0416,629.39Accounts receivable, includingretainage of $265,686.391,222,346.26Deposits and miscellaneous receivables15,867.80Inventory-construction material26,530.148,490.68Prepaid expensesTotal1,679,791.31(b) Notes receivable, non-current12,777.97(c) PropertyBuildings5,244.50Construction equipment188,289.80Motor vehicles37,576.04Office furniture and equipment13,596.18Total244,706.52(d) Less accumulated depreciation102,722.51Net property141,984.01(e) Total assets1,834,553.29Liabilities(f) Current liabilitiesAccounts payableDue subcontractorsAccrued expenses and taxesEquipment contracts, currentProvision for income taxesTotalIncome billed on jobs inprogress at 31 December 19X4Costs incurred to 31 December19X4 on uncompleted jobsTotal current liabilitiesEquipment contracts, non-current(h) Total liabilitiesNet worth(i) Common stock, 4,610 sharesRetained earnings(0) Total net worth(k) Total liabilities and net worth(g) Deferred credits$306,820.29713,991.6650,559.692,838.6097,816.661,171,826.902,728,331.362,718,738.019,593.351,181,420.257,477.721,188,897.97461,000.00184,655.32645,655.321,834,553.29

Given Data:Current Assets= 1679791.31Inventory const. Material =26530.14Current Liabilities =…

Answered: What is the company's quick ratio A.…

Engineering

Civil Engineering

What is the company's quick ratio A. 1.79 B. 1.41 C. 2.06 D. 1.38

Structural Analysis

6th Edition

ISBN:9781337630931

Author:KASSIMALI, Aslam.

Publisher:KASSIMALI, Aslam.

Chapter2: Loads On Structures

Section: Chapter Questions

Problem 1P

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Concept explainers

Dimensional homogeneity

The term dimensional homogeneity means that in an equation, the dimensions of each term on both sides are equal, which means the dimensions of the left-hand side (LHS) of an equation are similar to the dimensions of the right-hand side (RHS). For a dimensionally homogeneous equation, the powers of fundamental dimensions will be identical on both sides of the equation.

Question

What is the company's quick ratio
A. 1.79
B. 1.41
C. 2.06
D. 1.38

Refer to the Balance Sheet, what is the company's quick ratio?
TABLE P3.2 Balance Sheet, Cyclone Construction Co. (31 December 2012)
Assets
(a) Current assets
Cash on hand and on deposit
Notes receivable, current -
$389,927.04
16,629.39
Accounts receivable, including
retainage of $265,686.39
1,222,346.26
Deposits and miscellaneous receivables
15,867.80
Inventory-construction material
26,530.14
8,490.68
Prepaid expenses
Total
1,679,791.31
(b) Notes receivable, non-current
12,777.97
(c) Property
Buildings
5,244.50
Construction equipment
188,289.80
Motor vehicles
37,576.04
Office furniture and equipment
13,596.18
Total
244,706.52
(d) Less accumulated depreciation
102,722.51
Net property
141,984.01
(e) Total assets
1,834,553.29
Liabilities
(f) Current liabilities
Accounts payable
Due subcontractors
Accrued expenses and taxes
Equipment contracts, current
Provision for income taxes
Total
Income billed on jobs in
progress at 31 December 19X4
Costs incurred to 31 December
19X4 on uncompleted jobs
Total current liabilities
Equipment contracts, non-current
(h) Total liabilities
Net worth
(i) Common stock, 4,610 shares
Retained earnings
(0) Total net worth
(k) Total liabilities and net worth
(g) Deferred credits
$306,820.29
713,991.66
50,559.69
2,838.60
97,816.66
1,171,826.90
2,728,331.36
2,718,738.01
9,593.35
1,181,420.25
7,477.72
1,188,897.97
461,000.00
184,655.32
645,655.32
1,834,553.29

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