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.
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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F657b0f2c-505d-4f01-9591-bc88ec786b35%2Fb92471f9-f86b-4d6b-a6a1-622d0e8daf02%2Fmr3u1fl_processed.jpeg&w=3840&q=75)
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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