Jones corp. reported current assets of $187,000 and current liabilities of $132,000 on its most recent balance sheet. the current assets consisted of $63,200 cash; $44,800 accounts receivable; and $79,000 of inventory. the acid-test (quick) ratio is:

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Business

Britney Powell

20 November, 01:22

Jones corp. reported current assets of $187,000 and current liabilities of $132,000 on its most recent balance sheet. the current assets consisted of $63,200 cash; $44,800 accounts receivable; and $79,000 of inventory. the acid-test (quick) ratio is:

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Molly Jimenez · Answer 1

Hello!

acid-test (quick) ratio = (Cash+short term investments+accounts receivable) : current liabilities

acid-test (quick) ratio is

(63,200+44,800) : 132,000=0.8182

0.8182*100=81.82%

Good luck!