Ask Question
BusinessBusiness
5 August, 21:28

The trial balance of a company included the following account balances: Cash, $25,000; Short-Term Investments, $10,000; Accounts Receivable, $40,000; Inventory, $90,000; and Prepaid Insurance, $12,000. Its quick assets total:

A. $35,000

B. $125,000

C. $75,000

D. $165,000

E. $50,000

+4
Answers (2)
  1. 5 August, 22:27
    0
    Its quick assets total is $75,000. The right answer is C.

    Explanation:

    In order to calculate the company's quick assets total we need to check according to the data, which of the account balances of the company are quick assets.

    Hence, Quick assets are the following:

    Cash $ 25,000

    Short Term Investments $10,000.

    Accounts Receivable $40,000.

    Therefore, Total Quick Assets=$ 25,000 + $10,000 + $40,000 = $75,000
  2. 5 August, 23:57
    0
    C. $75,000

    Explanation:

    All the current assets which can be quickly converted into cash are the quick assets. Inventory and Prepaid Insurance are not the p[art of this because these take much longer time to convert into cash than other current assets. Receivable has more liquidity than inventory because it takes less time to recover.

    Cash $25,000

    Short-Term Investments $10,000

    Accounts Receivable $40,000

    Total Quick Assets $75,000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The trial balance of a company included the following account balances: Cash, $25,000; Short-Term Investments, $10,000; Accounts ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
What is an attorney's secondary attempt to exclude a juror?
Answers (1)
Lee Holmes deposited $15,000 in a new savings account at 9% interest compounded semiannually. At the beginning of year 4, Lee deposits an additional $40,000 at 9% interest compounded semiannually. What is the balance in Lee's account?
Answers (1)
A store sales T-shirts at a price of $40 per shirt. None of the buyers are willing to pay this price. In 2-3 sentences describe the signal that the buyers are sending the seller about the price of the T-shirt.
Answers (1)
Olivia was returning from her break when her boss saw her and stated, "I noticed your break was especially long this afternoon." Her boss was curious if there was anything amiss, but did not want to pry.
Answers (1)
Which of the following is most strongly supported by the Keynesian perspective of macroeconomics? A. inflation is a price that might have to be paid to achieve lower unemployment B.
Answers (1)
New Questions in Business
An analytical procedure example is the comparison of: Multiple Choice a. Financial ratios of the current year to previous years. b. Recorded amounts of major disbursements with appropriate invoices. c.
Answers (1)
Mary sue owns 1,000 shares of qrs moving company. qrs pays a yearly dividend of $1.00 per share. what is the total annual dividend that mary sue will receive?
Answers (1)
To StaySafe around electricity, Ted needs to: A. Follow his gut instinct B. Follow procedures established by his co-workers C. Make sure electrical hazards are resolved immediately D. Practice electrical safety only when his employer is watching
Answers (1)
Tangible assets as well as intangible assets of a business need to be assessed for proper venture evaluation. a. True b. False
Answers (1)
Which of the following is an example of passive income? (1) portfolio income, including interest, dividends, annuities, and royalties (2) income from rental real estate earned by a no real estate professional (3) winnings from gambling (4) state and
Answers (1)
Home » Business » The trial balance of a company included the following account balances: Cash, $25,000; Short-Term Investments, $10,000; Accounts Receivable, $40,000; Inventory, $90,000; and Prepaid Insurance, $12,000. Its quick assets total: A. $35,000 B.
Sign Up Forgot Password?