REQUIRED a. Compute the quick ratio on December 31 for each year. b. Is the quick ratio
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Question:
REQUIRED
a. Compute the quick ratio on December 31 for each year.
b. Is the quick ratio improving or declining?
INFORMATION
Dec. 31, 20Y4 | Dec. 31, 20Y3 | |||
Cash | $1,030 | $850 | ||
Temporary investments | 1,200 | 1,500 | ||
Accounts receivable | 810 | 950 | ||
Inventory | 2,300 | 2,600 | ||
Accounts payable | 1,900 | 2,200 |
Related Book For
Corporate Financial Accounting
ISBN: 978-1285868783
13th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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