Camaro GTO Torino Cash $ 2,550 $ 260 $ 1,300 Short-term investments 0 0 700 Current receivables 290 540 650 Inventory 2,250 2,080 3,200 Prepaid expenses 400 700 900 Total current assets $ 5,490 $ 3,580 $ 6,750 Current liabilities $ 2,280 $ 1,350 $ 3,700 Compute the acid-test ratio for each of the following separate cases. Camaro- GTO- Torino-

Camaro GTO Torino Cash $ 2,550 $ 260 $ 1,300 Short-term investments 0 0 700 Current receivables 290 540 650 Inventory 2,250 2,080 3,200 Prepaid expenses 400 700 900 Total current assets $ 5,490 $ 3,580 $ 6,750 Current liabilities $ 2,280 $ 1,350 $ 3,700 Compute the acid-test ratio for each of the following separate cases. Camaro- GTO- Torino-

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter6: Investing And Financing Activities

Section: Chapter Questions

Problem 1.4C

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	Camaro	GTO	Torino
Cash		$	2,550	$	260	$	1,300
Short-term investments			0		0		700
Current receivables			290		540		650
Inventory			2,250		2,080		3,200
Prepaid expenses			400		700		900
Total current assets		$	5,490	$	3,580	$	6,750
Current liabilities		$	2,280	$	1,350	$	3,700