Question: Question 11 (9 points) For the FY 2016, Alpha Company's balance sheet included the following current items: cash $40,000, accounts receivable $160,000, inventories $100,000, prepaid

 Question 11 (9 points) For the FY 2016, Alpha Company's balance

Question 11 (9 points) For the FY 2016, Alpha Company's balance sheet included the following current items: cash $40,000, accounts receivable $160,000, inventories $100,000, prepaid expenses $20,000, accounts payable $90,000, and accrued expenses $70,000. Use this information to determine the: (Round & enter your answers to one decimal place for non-dollar ratios and enter the value. For dollar ratio enter as whole dollars only.) 1. Quick Ratio 2. Current Ratio 3. Working Capital

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!