ACNT 1371 PRINT UPGRADE
10th Edition
ISBN: 9781260906554
Author: SPICELAND
Publisher: MCGRAW-HILL HIGHER EDUCATION
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What is the amount of the gross profit?
solve.Question 5: Acid-Test RatioA company has the following data:
Cash: $50,000Accounts Receivable: $30,000Inventory: $60,000Current Liabilities: $70,000a) What is the company’s acid-test ratio?b) Is the company in a strong liquidity position based on this ratio?
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