Calculate the quick assets (in $) and acid test ratio for the given company. Round ratios to the nearest hundredth. Company Current Assets Current Liabilities Cash Marketable Securities Accounts Receivable Quick Assets Acid Test Ratio a personal electronics retail store $14,640 $19,600 $2,790 0 $4,430 $   :1

Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
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Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
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Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 56P: The following selected information is taken from the financial statements of Arnn Company for its...
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Calculate the quick assets (in $) and acid test ratio for the given company. Round ratios to the nearest hundredth.
Company Current
Assets
Current
Liabilities
Cash Marketable
Securities
Accounts
Receivable
Quick
Assets
Acid Test
Ratio
a personal electronics retail store $14,640 $19,600 $2,790 0 $4,430  :1
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