Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. you own a business that has current liabilities of

You own a business that has current liabilities of $117,300; cash in the amount $5,600;...

80.2K

Verified Solution

Question

Accounting

You own a business that has current liabilities of $117,300; cash in the amount $5,600; securities valued at $98,400; and accounts receivable of $85,900. Calculate the acid test ratio. (Round to the nearest hundredth)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Sharp and Townson had capital balances of $80,000 and $150,000, respectively on January 1, 2014 of...

Accounting
Q

A square steel rod 20 mm x 20 mm in section is to carry an...

Physics
Q

Write the answer without using exponents a 73 b 2 7

Basic Math
Q

A committee of five students is tobe selected from a group of sixgirls and four...

Basic Math
Q

What are the four basic financial statements? Describe the statement of cash flows, and explain...

Accounting
Q

an account balance is?

Accounting
Q

A firm had retained earnings of $100,000 in 2012 and $125,000 in 2013. The increase...

Accounting
Q

Cramer Company sold five-year, 8% bonds on October 1, 2016. The face amount of the...

Accounting
Q

Trial Balance The accounts in the ledger of Seaside Furniture Company as of August 20Y5...

Accounting
Q

Return on Investment and Residual Income The Emergency Medical Services Company has two divisions that...

Accounting
Q

The following information is available for Wildhorse Corporation: The company accountant, in preparing financial statements...

Accounting
Q

Sparrow Corporation would like you to review its employee fringe benefits program with regard to...

Accounting