Top Posters
Since Sunday
g
3
3
2
J
2
p
2
m
2
h
2
s
2
r
2
d
2
l
2
a
2
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
citycyborg citycyborg
wrote...
Go to Answer
Posts: 138
Rep: 0 0
A year ago
The 2020 and 2021 partial balance sheets for Ottoman Industries are shown below:

​​20202021
Current assets​​
  Cash and cash equivalents$  16,000$  14,000
  Accounts receivable, net20,00024,000
  Inventory25,00023,000
  Marketable equity securities     5,000     5,000
Total current assets66,00066,000
Plant & equipment, net   60,000   40,000
Total assets$126,000$106,000
​​​
Current liabilities$   20,000$   30,000
Noncurrent liabilities   60,000   40,000
Total liabilities80,00070,000
Total stockholders' equity   46,000   36,000
Total liabilities and stockholders' equity$126,000$106,000

Calculate the 2021 acid-test ratio.

▸ 1.27

▸ 2.20

▸ 1.51

▸ 1.43
Textbook 
Managerial Accounting

Managerial Accounting


Edition: 4th
Author:
Read 34 times
1 Reply
Replies
Answer verified by a subject expert
birdnuggetbirdnugget
wrote...
#1
Posts: 148
Rep: 1 0
A year ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

citycyborg Author
wrote...

A year ago
Smart ... Thanks!
Ctownsend
wrote...

Yesterday
Just got PERFECT on my quiz
jodie1
wrote...

2 hours ago
This calls for a celebration Person Raising Both Hands in Celebration
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  865 People Browsing
 124 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 345
  
 1226
  
 59