Delta Company reports the following year-end balance sheet data. The company's acid-test ratio equals: Cash $ 53,000 Current liabilities $ 88,000 Accounts receivable 68,000 Long-term liabilities 30,000 Inventory 73,000 Common stock 113,000 Equipment 158,000 Retained earnings 121,000 Total assets $ 352,000 Total liabilities and equity $ 352,000
Delta Company reports the following year-end balance sheet data. The company's acid-test ratio equals: Cash $ 53,000 Current liabilities $ 88,000 Accounts receivable 68,000 Long-term liabilities 30,000 Inventory 73,000 Common stock 113,000 Equipment 158,000 Retained earnings 121,000 Total assets $ 352,000 Total liabilities and equity $ 352,000
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
Problem 2P
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Question
Delta Company reports the following year-end balance sheet data. The company's acid-test ratio equals:
Cash | $ 53,000 | Current liabilities | $ 88,000 |
---|---|---|---|
68,000 | Long-term liabilities | 30,000 | |
Inventory | 73,000 | Common stock | 113,000 |
Equipment | 158,000 | 121,000 | |
Total assets | $ 352,000 | Total liabilities and equity | $ 352,000 |
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