Exercise 5-14 Computing and analyzing acid-test and current ratios LO A1 Case X Case Y %24 Case z $1,300 700 Cash Short-term investments Current receivables Inventory Prepaid expenses $ 2,550 260 290 540 650 2,250 400 2,080 3,200 900 700 Total current assets $ 5,490 $ 3,580 $ 6,750 Current liabilities $ 2,280 $ 1,350 $ 3,700 Compute the current ratio and acid-test ratio for each of the following separate cases. Current Ratio Choose Numerator: Choose Denominator: Current Ratio Current ratio Case X to 1 Case Y to 1 Case Z to 1 Acid-Test Ratio Choose Numerator: Choose Denominator: Acid-Test Ratio Acid-test ratio Case X to 1 to 1 Case Y to 1 Case Z I
Exercise 5-14 Computing and analyzing acid-test and current ratios LO A1 Case X Case Y %24 Case z $1,300 700 Cash Short-term investments Current receivables Inventory Prepaid expenses $ 2,550 260 290 540 650 2,250 400 2,080 3,200 900 700 Total current assets $ 5,490 $ 3,580 $ 6,750 Current liabilities $ 2,280 $ 1,350 $ 3,700 Compute the current ratio and acid-test ratio for each of the following separate cases. Current Ratio Choose Numerator: Choose Denominator: Current Ratio Current ratio Case X to 1 Case Y to 1 Case Z to 1 Acid-Test Ratio Choose Numerator: Choose Denominator: Acid-Test Ratio Acid-test ratio Case X to 1 to 1 Case Y to 1 Case Z I
Accounting (Text Only)
26th Edition
ISBN:9781285743615
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter4: Completing The Accounting Cycle
Section: Chapter Questions
Problem 4.6APE
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