Jessica's Boutique has cash of $47, accounts receivable of $68, accounts payable of $220, and inventory of $150. What is the value of the quick ratio?
1.20
.68
.31
1.73
.52
$ | $ | ||||
Cash | 47 | Accounts payables | 220 | ||
Accounts receivables | 68 | Current liabilities | 220 | ||
Inventory | 150 | ||||
Current assets | 265 | ||||
Quick ratio = ( Current assets - Inventory ) / Current liabilities = ( $265 - $150 ) / $220 = 0.52 | |||||
Jessica's Boutique has cash of $47, accounts receivable of $68, accounts payable of $220, and inventory...
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