The crafter company had the following assets and, Ask an Expert

Accounting

The Crafter Company had the following assets and liabilities as of December 31, 2012:

ASSETS

Cash
$35,000
Accounts receivable
15,000
Inventory
30,000
Equipment
50,000

LIABILITIES

Current portion of long-term debt
10,000
Accounts payable
2,000
Long-term debt
25,000

Determine the quick ratio for the end of the year (rounded to one decimal point).

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M962856

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