Pritchett Company reported the following year-end data: Cash Short-term investments Accounts receivable (current) Inventory Prepaid (current) assets Total current liabilities $ 15,000 5,000 8,000 20,000 6,000 20,000 Compute the (a) current ratio and (b) acid-test ratio. Current Ratio Acid Test Ratio Complete this question by entering your answers in the tabs below.

Pritchett Company reported the following year-end data: Cash Short-term investments Accounts receivable (current) Inventory Prepaid (current) assets Total current liabilities $ 15,000 5,000 8,000 20,000 6,000 20,000 Compute the (a) current ratio and (b) acid-test ratio. Current Ratio Acid Test Ratio Complete this question by entering your answers in the tabs below.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 6MCQ

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Pritchett Company reported the following year-end data: Cash Short-term investments Accounts receivable (current) Inventory Prepaid (current) assets Total current 1iabilities $ 20, 100 8, 500 13,400 24, 000 6,800 28, 000 Compute the (a) current ratio and ( acid-test ratio. Complete this question by entering your answers in the tabs below. Currlat Ratio Acid Test Ratio Compute the current ratio. Current Ratio Current Ratio Numerator: Denominator: Current assets Current liabilities Current ratio 72.800 %24 28,000 2.6 to 1 %3 Acid Test Ratio>
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Pritchett Co. reported the following year-end data: Cash $20,200 Short-term investments $ 8,600 Accounts receivable (current) $11,800Inventory $28,600Other current assets $12,000 Total current liabilities $29,000 Compute the (a) Acid test ratio