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serious [3.7K]
2 years ago
7

You are analyzing a company that has cash of $8,800, accounts receivable of $15,800, fixed assets of $87,600, accounts payable o

f $40,300, and inventory of $46,900. What is the quick ratio?
a. 1.20
b. 83
c. 61
d. 164
Business
1 answer:
nikdorinn [45]2 years ago
7 0

Answer:

quick ratio =  0.61  

Explanation:

given data

cash = $8,800

accounts receivable = $15,800

fixed assets = $87,600

accounts payable = $40,300

inventory = $46,900

solution

we get here quick ratio that is express as

quick ratio = (Cash + Accounts receivable) ÷ (Accounts Payable)   .................1

put here value and we get

quick ratio = \frac{8800+15800}{40300}  

quick ratio =  0.61  

so correct option is c. 61

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