Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 12 use the information below for privett company t

12 Use the information below for Privett Company to answer the question that follow. ...

60.1K

Verified Solution

Question

Accounting

12

Use the information below for Privett Company to answer the question that follow.

Privett Company

Accounts payable

$ 30,000

Accounts receivable

35,000

Accrued liabilities

7,000

Cash

25,000

Intangible assets

40,000

Inventory

72,000

Long-term investments

100,000

Long-term liabilities

75,000

Marketable securities

36,000

Notes payable (short-term)

20,000

Property, plant, and equipment

400,000

Prepaid expenses

2,000

Based on the data for Privett Company, what is the quick ratio, rounded to one decimal point?

a. 1.1

b. 1.0

c. 2.9

d. 1.7

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

Excited H atoms have many emission lines. One series of lines, called the brackett series, occurs...

Statistics
1.2K views

A fair 6-sided die is rolled repeatedly. (a) Find the expected number of rolls needed to...

Finance
1.2K views

Broussard Skateboard's sales are expected to increase by20% from $7.0million in 2016 to $8.40million in 2017....

Biology
1.2K views

According to the video why is it important to learn about these fungi 0 5...

Physics
1.2K views

66 A ring of mean radius 15 cm has 3500 turns of wire wound on...

Physics
1.2K views

3 An electric bell has a resistance of 502 and requires a current of 0...

Physics
1.2K views

same 5 The ratio of lengths of two wires made up of material is 2...

Statistics
1.2K views

The following data set contains the Test 1 scores of all students in a statistics...

Algebra
1.2K views

Long Term Investments This exercise is based on the following table which lists interest rates...

Algebra
1.2K views

9 7 99x 119x 76x 96 11x 12 A 9r 1 6 2 11x 12...

Accounting
1.2K views

15 (5 points) Support items for a qualifying relative include all of the following except...

Finance
1.2K views

What will be the nominal rate of return on a perpetual preferred stock with a...