Austin Technology Co. had the following current assets andliabilities for two comparative years:
Current Year
Previous Year
Current assets:
Cash
$469,000
$666,000
Accounts receivable
415,000
314,000
Inventory
256,000
265,000
Total current assets
$1,140,000
$1,245,000
Current liabilities:
Current portion of long-term debt
$83,000
$74,000
Accounts payable
166,000
147,000
Accrued and other current liabilities
271,000
269,000
Total current liabilities
$520,000
$490,000
a. Determine the quick ratio for December 31 ofboth years. If required, round your answers to one decimalplace.
Quick Ratio
Previous year:
Current year:
“Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!”
What Students Are Saying About Us
.......... Customer ID: 12*** | Rating: ⭐⭐⭐⭐⭐"Honestly, I was afraid to send my paper to you, but splendidwritings.com proved they are a trustworthy service. My essay was done in less than a day, and I received a brilliant piece. I didn’t even believe it was my essay at first 🙂 Great job, thank you!"
.......... Customer ID: 14***| Rating: ⭐⭐⭐⭐⭐
"The company has some nice prices and good content. I ordered a term paper here and got a very good one. I'll keep ordering from this website."
