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Home Q & A Board Other Fields Homework Help Business Accounting
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citycyborg citycyborg
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A month 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
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birdnuggetbirdnugget
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A month ago
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More solutions for this book are available here
1.43

($14,000 + $24,000 + $5,000) ÷ $30,000 = 1.43
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citycyborg Author
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A month ago
This calls for a celebration Person Raising Both Hands in Celebration
jbarnett14
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Yesterday
Thanks for your help!!
Natalie Price
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2 hours ago
Thanks
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