16) Given: The financial data below for Tech Engineering in 2016. Category Dollar Amount Cash $800,000 1,000,000 600,000 100,000 650,000 180,000 Accounts receivable Inventories Intangibles Accounts payable Accrued Expenses a) Determine the working capital for the company. b) Compute the current ratio from the financial data provided. c) What is the acid-test ratio for the company in 2016?
16) Given: The financial data below for Tech Engineering in 2016. Category Dollar Amount Cash $800,000 1,000,000 600,000 100,000 650,000 180,000 Accounts receivable Inventories Intangibles Accounts payable Accrued Expenses a) Determine the working capital for the company. b) Compute the current ratio from the financial data provided. c) What is the acid-test ratio for the company in 2016?
Chapter16: Working Capital Policy And Short-term Financing
Section: Chapter Questions
Problem 1P
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