Question: If current assets are $5,000, inventory is $2,000 and current liabilities are $3,000, what is the quick ratio

If current assets are $5,000, inventory is $2,000 and current liabilities are $3,000, what is the quick ratio

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 Finance Questions!

Q:

Problem 2 - 5 Selected nancial data for Amberjack Corporation follows. Year 1 ( $ thousands ) Year 2 ( $ thousands ) Sales 3 3 3 , 2 3 4 4 7 0 , 3 1 7 Cost of goods sold 2 5 9 , 2 3 1 3 5 1 , 4 0 4...

Q:

Selected nancial data for Amberjack Corporation follows. Year 1 ( $ thousands ) Year 2 ( $ thousands ) Sales 3 4 2 , 2 9 7 4 8 1 , 4 2 3 Cost of goods sold 2 6 8 , 2 7 6 3 6 0 , 5 8 4 Net income ( 1...

Q:

Selected nancial data for Amberjack Corporation follows. Year 1 ( $ thousands ) Year 2 ( $ thousands ) Sales 3 3 9 , 2 7 0 4 7 7 , 7 2 1 Cost of goods sold 2 6 5 , 2 6 1 3 5 7 , 5 2 4 Net income ( 1...

Q:

Vertical analysis and Horizontal analysis along with ratios AutoSave Off HUB Ratio Analysis Jessica Belzer JB 7 File Home Insert Draw Design Layout References Mailings Review View Help Search Share...

Q:

I need some *((familiar with Integrated Audit Practice case assignments))* to help me complete this assignment as soon as possible. There is each worksheet that needs to complete missing information....

Q:

How do we standardize income statements to express each item as a percentage? Give a hypothetical example as to how standardizing income statements can be useful to draw comparisons between two...

Q:

It is current and quick ratio essay. ACCT 230-30247 (Financial Accounting) Accounting Education Department Cornelia Alsheimer, PhD Chapter 2: page 68-69; Chapter 9: page 458, Chapter 14: pages 703,...

Q:

Hello, This is the spreadsheet that my professor referenced in order to help me with correcting part B of the question. How would I make the corrections my professor has suggested?...

Q:

Accounting and Financial Management CAPRI LIMITED: PERFORMANCE EVALUATION AND PLANNING For many years Capri Limited has delivered on its quality products promise to consumers, ensuring continued...

Q:

Please solve the following Financial Statement Ratios using the Balance Sheet and Income Statement found below. Also tell me, in a sentence or two, what we have learned from each one. 1. CURRENT...

Q:

The following extracts were made from the books and records of Sandy Dandy for the year ended 31 December 2005: 1. Cash book summary Opening balance Cash sales Interest Additional capital introduced...

Q:

Lead Foot Locker, Inc. reported retained earnings of $500,000 on December 31, 2019. During the year, the company recorded net income of $200,000 and paid dividends of $80,000. Lead Foot Locker had no...

Q:

A developer of a new subdivision offers a prospective home buyer a choice of 4 designs, 3 different heating systems, a garage or carport, and a patio or screened porch. How many different plans are...

Q:

The first scenario will be a Verbal Judo scenario in which your scenario follows the standard Verbal Judo interaction: You need to ask somebody to modify their behavior either to do something or to...

Q:

3-1 Which features of organizations do managers need to know about to build and use information systems successfully? Define an organization and compare the technical definition of organizations...

Q:

3-3 How do Porters competitive forces model, the value chain model, synergies, core competencies, and network economics help companies develop competitive strategies using information systems? ...

Q:

3-2 What is the impact of information systems on organizations? Describe the major economic theories that help explain how information systems affect organizations. Describe the major behavioral...