1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Delvig [45]
3 years ago
8

Act II Costumes currently has $120,000 in cash, $340,000 in inventory, and $20,000 in accounts receivable. The company also has

$20,000 in accounts payable, and $20,000 in other current liabilities. What is its quick ratio?
Business
1 answer:
Len [333]3 years ago
5 0

Answer:

Quick ratio = Current assets - Inventory/Current liabilities

= $480,000 - $340,000/$40,000

= 3.5

Current assets = $120,000 + $340,000 + $20,000 = $480,000

Current liabilities = $20,000 + $20,000 = $40,000

Explanation:

Explanation: Quick ratio is the ratio of liquid assets to current liabilities. Liquid assets are current assets less inventory. Liquid assets amounted to $140,000 while current liabilities are $40,000. The division of liquid assets by current liabilities gives quick ratio.                                                                                                                      

You might be interested in
Bank A has a higher ROA than Bank B. Both banks have similar interest income to asset ratios and noninterest income to asset rat
iren2701 [21]

Answer:

A) I only

Explanation:

We can conclude that bank A will be more profitable than bank B since ROA is a measurement of profitability, and if the banks are operating in a similar manner (both interest income to asset ratios and noninterest income to asset ratios are similar), then the bank with the highest ROA is the most profitable one.

8 0
3 years ago
Managers that must analyze data from 500 hotels to determine when to discount rooms based on occupancy patterns would be placed
andrey2020 [161]

Answer:A. Manager's need to analyze large amounts of information.

Explanation: One of the major roles and responsibilities of managers is the analysis of data and information before making any decisions. All managers must be effective and efficient in data analysis or in the analysis of Information in order to effectively perform and conduct the business of Management adequately.

Data analysis is a strategic need of management and it mainly sometimes involves large amount of information or data.

5 0
3 years ago
Read 2 more answers
What is the definition of gambling
Montano1993 [528]
To bet , play games for money , risky . 
3 0
3 years ago
Last thing before i gtg I FINALLY GOT A MAN IN 3 DAYS
frutty [35]
Congrats for getting a man !
4 0
2 years ago
Data from Estrin Corporation's most recent balance sheet and income statement appear below: This Year Last Year Accounts receiva
jekas [21]

Answer:

d. 108 days

Explanation:

Average Inventory = (Beginning balance + Ending balance) / 2

Average Inventory = ($139,000 + $158,000) / 2

Average Inventory = $297,000 / 2

Average Inventory = $148,500

Inventory Turnover ratio = Cost of goods sold / Average Inventory

Inventory Turnover ratio =  $501,000 / $148,500

Inventory Turnover ratio = 3.37 times

Average days to sell inventory = Days in a year / Inventory Turnover ratio

Average days to sell inventory = 365 days / 3.37 times

Average days to sell inventory = 108.31 days

8 0
3 years ago
Other questions:
  • When does one country have an absolute advantage over another country?
    7·1 answer
  • What is the net operating income for the month under absorption costing?
    15·1 answer
  • Assessment of a potential supplier’s financial situation:
    11·1 answer
  • For many years you have been using your local, small-town bank. One day you hear that the bank is about to be purchased by Bank
    7·1 answer
  • 1.Choose one option that defines Pathos:
    10·1 answer
  • Paper Clip Company sells office supplies. The following information summarizes the​ company's operating activities for the​ year
    6·1 answer
  • Harris Company manufactures and sells a single product. A partially completed schedule of the company’s total costs and costs pe
    11·1 answer
  • Which person would benefit most from taking advantage of a low variable
    7·1 answer
  • a systematic and independent examination of project procedures, documentation, spending, statutory compliance, and reporting is
    12·1 answer
  • gomez runs a small pottery firm. he hires one helper at $11,000 per year, pays annual rent of $6,000 for his shop, and spends $2
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!