Solution-Determine the quick ratio

Determine the quick ratio

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Question - 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).

Reference no: EM131866430

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Determine the quick ratio

Reference no: EM131866430

Reference no: EM131866430

Questions Cloud

Reviews

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Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

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