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Compute Belkin acid-test ratio

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Question - The following information on current assets and current liabilities is for Belkin Company.

Cash $1,410 Prepaid expenses $700

Accounts receivable 2,671 Accounts payable 4,400

Inventory 6,600 Other current liabilities 900

Required -

a. Compute Belkin's acid-test ratio.

b. If its competitor, Logit, has an acid-test ratio of 1.2, which company is better able to pay for current liabilities with its quick assets?

Reference no: EM133077741

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