B Company provided the balance sheet below: Accounts Cash 225 150 payable Accounts receivable 600 Accruals 250 Inventory 475 Notes payable 425 Current Current assets 1,300 825 liabilities Net fixed assets 1,000 Long-term debt 625 Common equity 325 Retained 525 earnings Total liab. & Total assets 2,300 2300 equity Compute for the Acid-test ratio. (2 decimal places)

B Company provided the balance sheet below: Accounts Cash 225 150 payable Accounts receivable 600 Accruals 250 Inventory 475 Notes payable 425 Current Current assets 1,300 825 liabilities Net fixed assets 1,000 Long-term debt 625 Common equity 325 Retained 525 earnings Total liab. & Total assets 2,300 2300 equity Compute for the Acid-test ratio. (2 decimal places)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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