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What firm with the higher acid test has acid test ratio of

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After creating the respective Balance Sheets, including calculating the missing values for certain items, the company with the higher acid test has an acid test ratio of______

Company A
Copyright: $50,000
Equipment: $100,000
Inventory: $50,000
A/R: $40,000
Cash: (?)


Owner's Equity: $25,000
Bank loan: $100,000
Mortgage: $75,000
A/P: $30,000
Current bills: $20,000

Company B
Cash: $50,000
Land : $250,000
Goodwill: $100,000
A/R: $50,000
Inventory: $50,000

Current bills: $15,000
Net Worth: $160,000
Loan: $300,000
A/P: (?)

Problem 1: The firm with the higher acid test has an acid test ratio of

Reference no: EM132935713

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