If we have cash of $ 1,500, accounts receivables of $ 25,500 and current liabilities of...

Question

Question

If we have cash of $ 1,500, accounts receivables of $ 25,500 and current liabilities of...

If we have cash of $ 1,500, accounts receivables of $ 25,500 and current liabilities of $ 30,000, our quick or acid test ratio would be:

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Cash	1500
Add: Accounts receivable	25500
Total Quick assets	27000
Divide by Current liabilities	30000
Quick or acid test ratio	0.90

Add a comment

Answer 2

Similar Homework Help Questions

Cash Accounts receivable Inventory $1,290 3,195 6,200 Prepaid expenses Accounts payable Other current liabilities $ 700...

Cash Accounts receivable Inventory $1,290 3,195 6,200 Prepaid expenses Accounts payable Other current liabilities $ 700 5,600 900 Use the above information on current assets and current liabilities to compute the acid-test ratio. Acid-Test Ratio Choose Denominator: Choose Numerator: Acid-Test Ratio Acid-test ratio 0 to 1
Cash Accounts receivable Inventory $1,420 2,696 5,600 Prepaid expenses Accounts payable Other current liabilities $ 500...

Cash Accounts receivable Inventory $1,420 2,696 5,600 Prepaid expenses Accounts payable Other current liabilities $ 500 4,300 600 Use the above information on current assets and current liabilities to compute the acid-test ratio. Choose Numerator: Acid-Test Ratio Choose Denominator: = Acid-Test Ratio Acid-test ratio to 1 mm
Cash Accounts receivable Inventory $1,330 3,428 5,300 Prepaid expenses Accounts payable Other current liabilities $ 500...

Cash Accounts receivable Inventory $1,330 3,428 5,300 Prepaid expenses Accounts payable Other current liabilities $ 500 5, 200 900 Use the above information on current assets and current liabilities to compute the acid-test ratio. Acid-Test Ratio Choose Denominator: Choose Numerator: Acid-Test Ratio Acid-test ratio / to 1

Assuming the following information calculate the acid (quick) ratio: current liabilities $25,000. long term liabilities $50,000,...

Assuming the following information calculate the acid (quick) ratio: current liabilities $25,000. long term liabilities $50,000, cash $10,000, inventory $30,000, accounts receivable $30,000.
2019 2018 Current assets: Cash $ 9,000 9,000 Short-term investments 12,500 7,500 Accounts receivable 82,000 (9,000)...

2019 2018 Current assets: Cash $ 9,000 9,000 Short-term investments 12,500 7,500 Accounts receivable 82,000 (9,000) $ 71,800 73,000 (7,000) Less: Allowance for uncollectibles 64,800 Inventory 191,000 2,000 193,000 2,000 Prepaid insurance Total current assets 287,500 276,300 Total current liabilities 105,000 109,000 Net sales (all on account). 757,900 732,000 Score: 0.83 of 5 pts 4 of 4 (4 complete) HW Score: 79.17% W S5-12 (similar to) Que Western Products reported the following amounts in its 2019 financial statements. The 2018...
2018 2017 Cash Short-term Investments Net Accounts Receivables Merchandise Inventory Total Assets 60,000 $ 53,000 30,000...

2018 2017 Cash Short-term Investments Net Accounts Receivables Merchandise Inventory Total Assets 60,000 $ 53,000 30,000 0 146,000 132,000 277,000 252,000 495,000 535,000 265,000 202,000 44,000 56,000 170,000 178,000 48,000 44,000 Total Current Liabilities Long-term Note Payable Income from Operations Interest Expense Compute the following ratios for 2018 and 2017, and evaluate the company's ability to pay its current liabilities and total liabilities: a. Current ratio d. Debt ratio b. Cash ratio e. Debt to equity ratio c. Acid-test ratio

Stimac Corporation has total cash of $255,000, no marketable securities, total current receivables of $326,000, total...

Stimac Corporation has total cash of $255,000, no marketable securities, total current receivables of $326,000, total inventory of $169,000, total prepaid expenses of $62,000, total current assets of $812,000, total current liabilities of $288,000, total stockholders’ equity of $1,914,000, total assets of $2,765,000, and total liabilities of $851,000. The company’s acid-test (quick) ratio is closest to:
Assets $ Liabilities $ Current Assets Current Liabilities Cash 12,000 Accounts payable 28,500 Cash at bank...

Assets $ Liabilities $ Current Assets Current Liabilities Cash 12,000 Accounts payable 28,500 Cash at bank 7,000 Wages payable 7,000 Accounts receivable 35,000 Taxes payable 12,000 Inventory 30,500 Interest payable 15,000 Prepayments 3,300 Total current assets 87,800 Total current liabilities 62,500 Investments 25,000 Long-Term Liabilities Bank loan 335,000 Notes payable 15,000 Long-term liabilities 350,000 Property, Plant, and Equipment Total Liabilities 412,800 Land and building 156,000 Equipment 1,85,000 Less: Depreciation (63,000) 278,000 Stockholders’ Equity Intangible Assets Common stock 100,000 Goodwill 120,000...
The quick ratio a.relates cash, marketable securities, and net receivables to current liabilities. b.is calculated by...

The quick ratio a.relates cash, marketable securities, and net receivables to current liabilities. b.is calculated by taking one item from the income statement and one item from the balance sheet. c.is the same as the current ratio except it is rounded to the nearest whole percent. d.is used to quickly determine a company's leverage and long-term debt-paying ability.

Assets 2018 Liabilities 2018 Cash and Cash Equivalents 63,000 Current Liabilities 40,000 Short-term Investments 3,000 Long-term...

Assets 2018 Liabilities 2018 Cash and Cash Equivalents 63,000 Current Liabilities 40,000 Short-term Investments 3,000 Long-term Liabilities 120,000 Inventory 21,000 Total Liabilities 160,000 Accounts Receivables 20,000 Total Current Assets 107,000 Total Owners' Equity 597,000 Fixed Assets 650,000 Total Assets 757,000 What is the firm’s current ratio and quick ratio in this order? 1.58; 2.68 2.68; 1.58 1.58; 2.15 2.68; 2.15

If we have cash of $ 1,500, accounts receivables of $ 25,500 and current liabilities of...

Homework Answers

Add Answer to:
If we have cash of $ 1,500, accounts receivables of $ 25,500 and current liabilities of...

Post as a guest

Earn Coins

Cash Accounts receivable Inventory $1,290 3,195 6,200 Prepaid expenses Accounts payable Other current liabilities $ 700...

Cash Accounts receivable Inventory $1,420 2,696 5,600 Prepaid expenses Accounts payable Other current liabilities $ 500...

Cash Accounts receivable Inventory $1,330 3,428 5,300 Prepaid expenses Accounts payable Other current liabilities $ 500...

Assuming the following information calculate the acid (quick) ratio: current liabilities $25,000. long term liabilities $50,000,...

2019 2018 Current assets: Cash $ 9,000 9,000 Short-term investments 12,500 7,500 Accounts receivable 82,000 (9,000)...

2018 2017 Cash Short-term Investments Net Accounts Receivables Merchandise Inventory Total Assets 60,000 $ 53,000 30,000...

Stimac Corporation has total cash of $255,000, no marketable securities, total current receivables of $326,000, total...

Assets $ Liabilities $ Current Assets Current Liabilities Cash 12,000 Accounts payable 28,500 Cash at bank...

The quick ratio a.relates cash, marketable securities, and net receivables to current liabilities. b.is calculated by...

Assets 2018 Liabilities 2018 Cash and Cash Equivalents 63,000 Current Liabilities 40,000 Short-term Investments 3,000 Long-term...

If we have cash of $ 1,500, accounts receivables of $ 25,500 and current liabilities of...

Homework Answers

Add Answer to: If we have cash of $ 1,500, accounts receivables of $ 25,500 and current liabilities of...

Post as a guest

Earn Coins

Add Answer to:
If we have cash of $ 1,500, accounts receivables of $ 25,500 and current liabilities of...