Pritchett Co. reported the following year-end data: cash of $15,000; short-term investments of $5,000; accounts receivable (current)
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Pritchett Co. reported the following year-end data: cash of $15,000; short-term investments of $5,000; accounts receivable (current) of $8,000; inventory of $20,000; prepaid (current) assets of $6,000; and total current liabilities of$20,000. Compute the
(a) Current ratio
(b) Acid-test ratio. Round to one decimal.
Accounts ReceivableAccounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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