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XYZ Company Balance Sheet Assets Liabilities Cash $15,000 Notes $25,000 Inventory $41,000 Wages $56,000 Property $114,000 Equity Stock $50,000 Investment $39,000 Total Assets: Total Liabilities + Equity: Using the balance sheet provided, what is the decimal value for the quick ratio? quick ratio = [?] Round to the nearest tenth.

XYZ Company Balance Sheet Assets Liabilities Cash $15,000 Notes $25,000 Inventory $41,000 Wages $56,000 Property $114,000 Equity Stock $50,000 Investment $39,000 Total Assets: Total Liabilities + Equity: Using the balance sheet provided, what is the decimal value for the quick ratio? quick ratio = [?] Round to the nearest tenth.

FINANCIAL ACCOUNTING
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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XYZ Company Balance Sheet Assets Cash $15,000 Notes $25,000 Inventory $41,000 Wages $56,000 Property $114,000 Equity Stock $50,000 Investment $39,000 Total Assets: Total Liabilities + Equity: 2003-2022 International Academy of Science. All Rights Reserved. H Liabilities a D Using the balance sheet provided, what is the decimal value for the quick ratio? quick ratio = [?] Round to the nearest tenth. Enter
Transcribed Image Text:XYZ Company Balance Sheet Assets Cash $15,000 Notes $25,000 Inventory $41,000 Wages $56,000 Property $114,000 Equity Stock $50,000 Investment $39,000 Total Assets: Total Liabilities + Equity: 2003-2022 International Academy of Science. All Rights Reserved. H Liabilities a D Using the balance sheet provided, what is the decimal value for the quick ratio? quick ratio = [?] Round to the nearest tenth. Enter
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