The Young Company has the following assets and liabilities: ASSETS Cash $35,000 Accounts receivable 15,000 Inventory...
The Young Company has the following assets and liabilities:
ASSETS Cash $35,000 Accounts receivable 15,000 Inventory 30,000 Equipment 50,000
LIABILITIES Current portion of long-term debt 10,000 Accounts payable 2,000 Long-term debt 25,000
Determine the quick ratio (rounded to one decimal point).
13.0
4.2
6.7
3.5
Homework Answers
Quick ratio = quick asset / current liabilities
=(35,000 + 15,000) / (10,000 + 2,000)
=50,000 / 12,000
=4.2 times
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The Young Company has the following assets and liabilities:
ASSETS Cash $35,000 Accounts receivable 15,000 Inventory...
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Question 211.5 pts Complete the following...
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complete the following balance sheet. Assets 12/31/2018
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$35,000 Machinery and Equipment $350,000 $315,000 Buildings $75,000
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Question 211.5 pts Complete the following...
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