The following balance sheet information is provided for greene company for year 2: assets: -cash $5,400-accounts receivable $15,500-inventory $18,000-prepaid expenses $1,600-plant and equipment, net of depreciation $20,200-land $19,950total assets $80,650liabilities and stockholders' equity-accounts payable $4,500-salaries payable $11,500-bonds payable (due in ten years) $19,000-common stock, no par $30,000-retained earnings $15,650total liabilities and stockholders' equity $80,650what is the company's quick (acid-test) ratio?

The company's quick (acid-test) ratio is 1.30 times

Explanation:

The formula to compute quick ratio is shown below

= Quick assets ÷ Current liabilities

where,

quick assets = Cash + accounts receivable

= $5,400 + $15,500

= $20,900

It excludes inventory and prepaid expenses. So, we do not consider the computation part.

and, the current liabilities are accounts payable and the salaries payable.

So, the current liabilities would equal to

= $4500 + $11,500

= $16,000

Now put these values to the above formula

So, the quick ratio would equal to

= $20,900 ÷ $16,000

= 1.30 times

Hence, the company's quick (acid-test) ratio is 1.30 times

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi

answer; dogs;