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Compute the quick ratio for December

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Question - Tappert Company reported the following current assets and liabilities for December 31, 2012 and 2011:

Dec. 31, 2012

Dec. 31, 2012

Cash

$ 990

$ 860

Temporary investments

1,910

1,500

Accounts receivable

1,600

1,280

Inventory

2,000

1,400

Accounts payable

3,000

2,800

Required -

a. Compute the quick ratio for December 31, 2012 and 2011.

b. Interpret the company's quick ratio. Is the quick ratio improving or declining?

Reference no: EM132629145

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