Answered: Garry Co. has a current ratio of 8:1…

Garry Co. has a current ratio of 8:1 and a quick acid test ratio of 6. Current assets are P360,000. How much are the non-quick asset ? O P120,000 O P100.000 O P150,000 O P90,000

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 7P: Ace Industries has current assets equal to 3 million. The companys current ratio is 1.5, and its...

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Question

Garry Co. has à current ratio of 8:1 and a quick acid test ratio of 6. Current assets are P360,000. How much are the
non-quick asset ?
O P120,000
O P100.000
O P150,000
O P90,000

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