The following is a partial list of account balances found on Company XYZ's Balance Sheet: Cash:...

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The following is a partial list of account balances found on Company XYZ's Balance Sheet: Cash: 5600 Accounts Receivable: 7400 Equipment: 28000 Total Assets: 82000 Accounts Payable: 3700 Total Current Liabilities: 9000 Total Liabilities: 13500 And the following is a partial listing of Income Statement values also for Company XYZ: Revenue: 12000 Equipment Expenses: 5000 Advertising Expenses: 800 Total Expenses: 10500 Net Worth (Owner's Equity): 164000 For company XYZ, calculate the quick ratio using TWO DECIMAL PLACE accuracy. The following is a partial list of account balances found on Company XYZ's Balance Sheet: Cash: 5600 Accounts Receivable: 7400 Equipment: 28000 Total Assets: 82000 Accounts Payable: 3700 Total Current Liabilities: 9000 Total Liabilities: 13500 And the following is a partial listing of Income Statement values also for Company XYZ: Revenue: 12000 Equipment Expenses: 5000 Advertising Expenses: 800 Total Expenses: 10500 Net Worth (Owner's Equity): 164000 For company XYZ, calculate the quick ratio using TWO DECIMAL PLACE accuracy.

Answer rating: 100% (QA)

To calculate the quick ratio we need to use the formula Quick Ratio Cash Ac... View the full answer