FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Use the information below for Harding Company to answer the questions that follow. |
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Harding Company |
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Accounts payable |
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$ 40,000 |
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65,000 |
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Accrued liabilities |
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7,000 |
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Cash |
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30,000 |
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Intangible assets |
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40,000 |
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Inventory |
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72,000 |
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Long-term investments |
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110,000 |
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Long-term liabilities |
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75,000 |
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Marketable securities |
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36,000 |
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Notes payable (short-term) |
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30,000 |
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Property, plant, and equipment |
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625,000 |
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5. Based on the data for Harding Company, what is the amount of quick assets? |
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a. |
$205,000 |
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b. |
$203,000 |
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c. |
$131,000 |
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d. |
$66,000 |
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ANSWER: |
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6. Based on the data for Harding Company, what is the amount of |
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$238,000 |
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$128,000 |
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c. |
$168,000 |
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d. |
$203,000 |
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ANSWER: |
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7. Based on the data for Harding Company, what is the quick ratio, rounded to one decimal point? |
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2.7 |
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b. |
2.6 |
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c. |
1.7 |
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d. |
0.9 |
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How would i do calculate these?
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