Use the Gagnon, Inc.. balance-sheet data to answer the following questions. 1. Compute Gagnon, Inc.'s, quick (acid-test)
Question:
1. Compute Gagnon, Inc.'s, quick (acid-test) ratio at December 31, 2016, and 2015.
2. Use the comparative information from the table given for Horner, Inc., Isaacson Company, and Jona Companies Limited. Is Gagnon, Inc.'s, quick (acid-test) ratio for 2016 and 2015 strong, average, or weak in comparison?
Company Quick (acid-test) Ratio
Horner, Inc. (Utility)................................ 0.79
Isacson Company (Department store)........... 0.68
Jona Companies Limited (Grocery store)...... 0.71
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Related Book For
Financial Accounting
ISBN: 978-0134127620
11th edition
Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz
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