Use the information below for Privett Company to answer the questions that follow. Privett Company Accounts payable $ 30,000 Accounts receivable 35,000 Accrued liabilities 7,000 Cash 25,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 100,000 Long-term liabilities 75,000 Marketable securities 36,000 Notes payable (short-term) 20,000 Property, plant, and equipment 400,000 Prepaid expenses 2,000 Based on the data for Privett Company, what is the quick ratio, rounded to one decimal point?
Use the information below for Privett Company to answer the questions that follow. Privett Company Accounts payable $ 30,000 Accounts receivable 35,000 Accrued liabilities 7,000 Cash 25,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 100,000 Long-term liabilities 75,000 Marketable securities 36,000 Notes payable (short-term) 20,000 Property, plant, and equipment 400,000 Prepaid expenses 2,000 Based on the data for Privett Company, what is the quick ratio, rounded to one decimal point?
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 18MCQ
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Use the information below for Privett Company to answer the questions that follow.
| Privett Company | |
| Accounts payable | $ 30,000 |
| Accounts receivable | 35,000 |
| Accrued liabilities | 7,000 |
| Cash | 25,000 |
| Intangible assets | 40,000 |
| Inventory | 72,000 |
| Long-term investments | 100,000 |
| Long-term liabilities | 75,000 |
| Marketable securities | 36,000 |
| Notes payable (short-term) | 20,000 |
| Property, plant, and equipment | 400,000 |
| Prepaid expenses | 2,000 |
Based on the data for Privett Company, what is the quick ratio, rounded to one decimal point?
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