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Nabors Company reported the following current assets and liabilities for December 31 for two recent years: Dec. 31, Current Y
Federal Income Tax Withholding Bob Dunns weekly gross earnings for the present week were $2,440. Dunn has four exemptions. U
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Answer #1

Quick ratio = (cash + temporary investment + accounts receivable)/Accounts payable

On December 31, current year

quick ratio = ($1210 + $2640 + $2200)/$5500

= 1.1 times

On December 31, previous year

quick ratio = ($1170 + $2630 + $1790)/$4300

= 1.3 times

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