FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Quick ratio Adieu Company reported the following current assets and current liabilities for two recent years: Cash Temporary investments Accounts receivable Dec. 31, 20Y4 Dec. 31, 20Y3 $870 1,200 810 2,200 Inventory Accounts payable 1,800 2,500 a. Compute the quick ratio on December 31 for each year. Round to one decimal place. 20Y4 Quick Ratio fill in the blank 1 b. Is the quick ratio improving or declining? 20Y3 $1,310 1,500 940 fill in the blank 2 2,600
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Transcribed Image Text:Quick ratio Adieu Company reported the following current assets and current liabilities for two recent years: Cash Temporary investments Accounts receivable Dec. 31, 20Y4 Dec. 31, 20Y3 $870 1,200 810 2,200 Inventory Accounts payable 1,800 2,500 a. Compute the quick ratio on December 31 for each year. Round to one decimal place. 20Y4 Quick Ratio fill in the blank 1 b. Is the quick ratio improving or declining? 20Y3 $1,310 1,500 940 fill in the blank 2 2,600
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Step 1: Define Quick ratio
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Step 2: Computation of Quick ratio is as follows:
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Step 3: Quick ratio is improving or declining
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