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Jones Corp. reported current assets of $193,000 and current liabilities of $137,000 on its most recent balance sheet. The current assets consisted of $62,000 Cash; $43,000 Accounts Receivable; and $88,000 of Inventory. The acid-test (quick) ratio is:__________A. 1.4:1B. 0.77:1C. 0.54:1D. 1:1

Respuesta :

Answer:

correct option is B. 0.77:1

Explanation:

given data

current assets = $193,000

current liabilities = $137,00

Cash = $62,000

Accounts Receivable = $43,000

Inventory = $88,000

to find out

acid-test  ratio

solution

we get here the acid-test  ratio will be

acid-test  ratio = current assets - inventory ÷ current liabilities    .....................1

put here value we get

acid-test  ratio = [tex]\frac{193000 - 88000}{137000}[/tex]

acid-test  ratio = 0.766 to 1

so correct option is B. 0.77:1

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