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Use the information below for Harding Company to answer the question that follow. Harding Company Accounts payable $35,479 Accounts receivable 69,658 Accrued liabilities 6,342 Cash 21,866 Intangible assets 40,636 Inventory 81,299 Long-term investments 116,464 Long-term liabilities 78,760 Marketable securities 34,728 Notes payable (short-term) 21,173 Property, plant, and equipment 607,986 Prepaid expenses 2,827 Based on the data for Harding Company, what is the amount of quick assets? a.$56,594 b.$126,252 c.$1,510,965 d.$745,879

Use the information below for Harding Company to answer the question that follow. Harding Company Accounts payable $35,479 Accounts receivable 69,658 Accrued liabilities 6,342 Cash 21,866 Intangible assets 40,636 Inventory 81,299 Long-term investments 116,464 Long-term liabilities 78,760 Marketable securities 34,728 Notes payable (short-term) 21,173 Property, plant, and equipment 607,986 Prepaid expenses 2,827 Based on the data for Harding Company, what is the amount of quick assets? a.$56,594 b.$126,252 c.$1,510,965 d.$745,879

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 2MC: During 2021, Anthony Company purchased debt securities as a long-term investment and classified them...
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Use the information below for Harding Company to answer the question that follow.

Harding Company
Accounts payable $35,479
Accounts receivable 69,658
Accrued liabilities 6,342
Cash 21,866
Intangible assets 40,636
Inventory 81,299
Long-term investments 116,464
Long-term liabilities 78,760
Marketable securities 34,728
Notes payable (short-term) 21,173
Property, plant, and equipment 607,986
Prepaid expenses 2,827

Based on the data for Harding Company, what is the amount of quick assets?

a.$56,594
b.$126,252
c.$1,510,965
d.$745,879
Expert Solution
Step 1

Quick assets include cash on hand or current assets such as receivable accounts that can be converted to cashwith little to no discounting.

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