Refer to the following selected financial information from Texas Electronics. Compute the company's acid-test ratio for Year 2. Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $38,400 $ 33,150 64,500 84,000 125,500 129,500 13,000 10,600 392,500 342,500 108,900 112,300 715,500 680,500 394,500 379,500 99,000 90,000

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Refer to the following selected financial information from Texas Electronics. Compute the company's acid-test ratio for Year 2.
Year 2
$ 38,400
Year 1
$ 33,150
64,500
99,000
90,000
84,000
125,500
129,500
13,000 10,600
392,500 342,500
108,900 112,300
715,500 680,500
394,500 379,500
Cash
Short-term investments.
Accounts receivable, net
Merchandise inventory
Prepaid expenses
Plant assets
Accounts payable
Net sales.
Cost of goods sold
Transcribed Image Text:Refer to the following selected financial information from Texas Electronics. Compute the company's acid-test ratio for Year 2. Year 2 $ 38,400 Year 1 $ 33,150 64,500 99,000 90,000 84,000 125,500 129,500 13,000 10,600 392,500 342,500 108,900 112,300 715,500 680,500 394,500 379,500 Cash Short-term investments. Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales. Cost of goods sold
Multiple Choice
O
C
O
O
2.45.
2.21.
3.36.
2.09.
3.24.
Transcribed Image Text:Multiple Choice O C O O 2.45. 2.21. 3.36. 2.09. 3.24.
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