Information related to the Tolbert Company is presented below. Current assets Cash $4,000 Short-term investments 75,000 Accounts
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Information related to the Tolbert Company is presented below.
Current assets
Cash $4,000
Short-term investments 75,000
Accounts receivable 61,000
Inventories 110,000
Expenses paid in advance 30,000
Total current assets $280,000
The total current liability is $100,000.
What is the acid test ratio?
Related Book For
Financial accounting
ISBN: 978-1118285909
IFRS Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
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