The following financial data have been taken from the records of CP Enterprises. Accounts receivable $200,000 Accounts payable $80,000 Bonds payable, due in 10 years $300,000 Cash $100,000 Interest payable, due in three months $10,000 Inventory $440,000 Land $250,000 Notes payable, due in six months $50,000.

What is the company's acid est (quick) ratio?

Answer rating: 100% (QA)

The acidtest quick ratio is calculated using the following fo... View the full answer