Is there an "Accounts Receivable" in the given information? I need to calculate the quick ratio...
Is there an "Accounts Receivable" in the given information? I need to calculate the quick ratio and cash ratio, but get the same answer for both as i don't see an Accounts Receivable for the quick ratio.
| Current assets: |
| Cash and cash equivalents |
| Short-term investments |
| Other current assets |
| Merchandise inventory - net |
| Total current assets |
| Property, less accumulated depreciation |
| Long-term investments |
| Deferred income taxes - net |
| Goodwill |
| Other assets |
| Total assets |
Homework Answers
Answer:
In the current assets section in the list you provided, account receivable (or trade receivable) does not appear.
This means:
Accounts Receivable = $0
There are companies, which may not sell on credit and as such they will not have any accounts receivable.
Hence:
For your calculations of quick ratio, please assume accounts receivable = $0
Further, quick ratio and cash ratio should differ. You should not get same answer for both.
In this case:
Quick ratio = (Cash and cash equivalents + Short-term investments) / Current liabilities
and
Cash ratio = Cash and cash equivalents / Current liabilities
So both ratios should differ.
Add Answer to:
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