What is decimal value got the quick ratio **Balance Sheet Analysis: Quick Ratio Calculation****XYZ Company Balance Sheet****Assets:**- Cash: $10,000- Inventory: $61,000- Property: $110,000**Liabilities:**- Notes: $65,000- Wages: $76,000**Equity:**- Stock: $50,000- Investment: $39,000**Instructions:**Using the balance sheet provided, what is the decimal value for the quick ratio?**Formula:**\[ \text{Quick Ratio} = \frac{\text{Cash} + \text{Receivables} (if any)}{\text{Current Liabilities}} \]**Calculation:**Given the assets and liabilities, the quick ratio focuses specifically on cash and accounts that can be quickly converted to cash (excludes inventory and property). Therefore, only cash is considered in this problem.\[ \text{Quick Ratio} = \frac{\$10,000}{\$65,000 + \$76,000} \]Round to the nearest tenth.\[ \text{Quick Ratio} = \frac{\$10,000}{\$141,000} \approx 0.07 \]**Note:** The inventory and property values are not included in the quick ratio.Click 'Enter' to submit your answer. _END OF INSTRUCTION_

The quick ratio compares a company's current obligations to its available liquid assets in terms of…

Answered: XYZ Company Balance Sheet Liabilities…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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