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compute acid (qick) ratio for 2017

left side 2017 right side 2016

Assets $233,450 $176,038 Current Liabilities: Accounts Payable $ 35,000 $ 30,000 Accrued Compensation 15,000 13,000 Total Current Liabilities $ 50,000 $ 43,000 ** If the cost of goods sold for 2017 is $100,000 and net sales for year 2016 and 2017 are $650,500 and $718,500 respectively. Compute Acid (Quick) ratio for 2017. Answer: Assets $233,450 $176,038 Current Liabilities: $ 35,000 $ 30,000 Accounts Payable Accrued Compensation 15,000 13,000 Total Current Liabilities $ 50,000 $ 43,000 ** If the cost of goods sold for 2017 is $100,000 and net sales for year 2016 and 2017 are $650,500 and $718,500 respectively. Compute Acid (Quick) ratio for 2017. Answer: Assets $233,450 $176,038 Current Liabilities: Accounts Payable $ 35,000 $ 30,000 Accrued Compensation 15,000 13,000 Total Current Liabilities $ 50,000 $ 43,000 ** If the cost of goods sold for 2017 is $100,000 and net sales for year 2016 and 2017 are $650,500 and $718,500 respectively. Compute Acid (Quick) ratio for 2017. Answer: Assets $233,450 $176,038 Current Liabilities: $ 35,000 $ 30,000 Accounts Payable Accrued Compensation 15,000 13,000 Total Current Liabilities $ 50,000 $ 43,000 ** If the cost of goods sold for 2017 is $100,000 and net sales for year 2016 and 2017 are $650,500 and $718,500 respectively. Compute Acid (Quick) ratio for 2017

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