Question

Use the information below for Harding Company to answer the question that follow. Harding Company Accounts payable $28,638 Accounts receivable 64,301 Accrued liabilities 6,777 Cash 18,105 Intangible assets 39,288 Inventory 87,492 Long-term investments 90,949 Long-term liabilities 71,756 Marketable securities 36,573 Notes payable (short-term) 27,962 Property, plant, and equipment 620,674 Prepaid expenses 2,418 Based on the data for Harding Company, what is the amount of quick assets?

Answer 1

Answer:

$119,159

Explanation:

The computation of the quick asset is shown below:

Quick assets = Cash + Marketable securities  + Accounts receivable

                     = $18,105 + $36,753 + $64,301

                     = $119,159

Only these items i.e cash, marketable securities and the account receivable are shown in the quick assets