Phillips, Inc. had the following financial data for the year ended December 31, 2025. Cash $42,000 Cash equivalents 78,000 Long term investments 58,000 Total current liabilities 150,000 What is the cash ratio as of December 31, 2025, for Phillips, Inc.? (Round your answer to two decimal places.) A. 0.80 B. 0.46 C. 0.28 D. 0.39
Phillips, Inc. had the following financial data for the year ended December 31, 2025. Cash $42,000 Cash equivalents 78,000 Long term investments 58,000 Total current liabilities 150,000 What is the cash ratio as of December 31, 2025, for Phillips, Inc.? (Round your answer to two decimal places.) A. 0.80 B. 0.46 C. 0.28 D. 0.39
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter1: The Role Of Accounting In Business
Section: Chapter Questions
Problem 1.4.2MBA: Return on assets The following data (in millions) were adapted from recent financial statements of...
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Phillips, Inc. had the following financial data for the year ended December 31, 2025.
Cash
|
$42,000
|
Cash equivalents
|
78,000
|
Long term investments
|
58,000
|
Total current liabilities
|
150,000
|
What is the cash ratio as of December 31, 2025, for Phillips, Inc.? (Round your answer to two decimal places.)
0.80
0.46
0.28
0.39
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