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ones Corp. reported current assets of $193,000 and current liabilities of $137,000 on its most recent balance sheet. The current assets consisted of $62,000 Cash: $43,000 Accounts Receivable; and $88,000 of Inventory. The acid-test (quick) ratio ist A) 1.4: 1. B) 0.77: 1. C) 0.54:1. D) 1:1. E) 0.64: 1.

ones Corp. reported current assets of $193,000 and current liabilities of $137,000 on its most recent balance sheet. The current assets consisted of $62,000 Cash: $43,000 Accounts Receivable; and $88,000 of Inventory. The acid-test (quick) ratio ist A) 1.4: 1. B) 0.77: 1. C) 0.54:1. D) 1:1. E) 0.64: 1.

FINANCIAL ACCOUNTING
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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Jones Corp. reported current assets of $193,000 and current liabilities of $137,000 on its most recent balance sheet. The current assets consisted of $62,000 Cash: $43,000 Accounts Receivable; and $88,000 of Inventory. The acid-test (quick) ratio ist

A) 1.4: 1.

B) 0.77: 1.

C) 0.54:1.

D) 1:1.

E) 0.64: 1.

 

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