Question: From the following data for David ProElecticals, calculate the quick ratio. Cash $68,500 Accounts receivable 130,000 Inventories 213,000 Prepaid expenses 25,000 Total current assets $436,500

From the following data for David ProElecticals, calculate the quick ratio.

Cash

$68,500

Accounts receivable

130,000

Inventories

213,000

Prepaid expenses

25,000

Total current assets

$436,500

Less current liabilities

275,000

Working capital

$161,500

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

s At an effective annual interest rate of 20 percent, how many years wil it take a given amount to triple in value? (Round to the closest year.) 10 presently have $6,000 invested at a rate of 15...

Q:

12) The _____ is prepared with various sections, subsections, and captions that aid in its interpretation and analysis. a. classified balance sheet b. retained earnings statement c. intangible asset...

Q:

Bethaven University Sm x Quiz Unit 2: Homework Assignm x Global Culture urses/36837/quizzes/161773/take O $140,000 D Question 3 3. From the following data for David ProElecticals, calculate the quick...

Q:

From the following data for David ProElecticals, calculate the quick ratio. Cash $68,500 Accounts receivable 130,000 Inventories 213,000 Prepaid expenses 25,000 Total current assets $436,500 Less...

Q:

From the following data for David ProElecticals, calculate the quick ratio. Cash $ 68,500 Accounts receivable 130,000 Inventories 213,000 Prepaid expenses 25,000 Total current assets $436,500 Less...

Q:

What is going on at American Greetings? Discuss the competitiveness of the industry. Discuss the factors that drive the fundamental value of American Greetings. The shares of American Greetings are...

Q:

Dec 31, 2015 200.000 Comparative lance Sheet December 31, 2016 and 2015 Dec 31, 2016 Current assets Cash Marketable securities 5450.000 $ 400.000 Accounts receivable net) 300.000 Inventories 130.000...

Q:

The net income reported on the income statement for the current year was $310,000. Depreciation recorded on fixed assets and amortization of patents for the year were $40,000 and $9,000,...

Q:

7-12) Data for Argils Textiles2014 financial statements are given in Tables 7.1 and 7.2 in the chapter. a) Compute the 2014 values of the following ratios: 2014 Values Ratio Argile Industry Current...

Q:

7-12) Data for Argils Textiles2014 financial statements are given in Tables 7.1 and 7.2 in the chapter. a) Compute the 2014 values of the following ratios: 2014 Values Ratio Argile Industry Current...

Q:

Where can you find committee reports of new legislation? How do you find committee reports reflective of prior legislation?

Q:

Explain how to compute the relative frequency and cumulative relative frequency.

Q:

Find all critical numbers of the function \ ( y = \ frac { x ^ { 2 } - 7 } { x - 4 } , x eq 4 \ ) . Then use the second - derivative test on each critical number to determine whether it leads to a...

Q:

At December 31, 2021, Newman Engineering's liabilities include the following: 1. $24 million of 6% bonds were issued for $24 million on May 31, 1999. The bonds mature on May 31, 2029, but bondholders...

Q:

Cupola Awning Corporation introduced a new line of commercial awnings in 2021 that carry a two-year warranty against manufacturer's defects. Based on their experience with previous product...

Q:

The following information pertains to Skysong, Inc.. 1. Cash balance per bank, July 31, $7,943. 2. July bank service charge not recorded by the depositor $37. 3. Cash balance per books, July 31,...

Q:

Woodmier Lawn Products introduced a new line of commercial sprinklers in 2020 that carry a one-year warranty against manufacturer's defects. Because this was the first product for which the company...

Q:

1.3. Critically analyse the following statement: Diversity has become a dominant activity in managing an organisation's resources." In your answer, say why diversity training is essential, providing...

Q:

1. What information of vital importance is not expressed in the message? The answer to the question tells us a little about the code used between the parties.

Q:

2. Find five metaphors for communication.

Q:

5. Starting with a motive you may have for acting the way you do in a particular situation: a) What purpose did you seek to achieve? b) Which aspects of your past and your surroundings influenced...