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apple321 apple321
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4 months ago
Gant Wholesale Company has $2,000 in cash, $7,000 in accounts receivable, $12,000 in inventory, and $3,000 in prepaid expenses. Liabilities totaled $20,000, with $6,000 current and $14,000 long-term. What is Gant's acid-test ratio?
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Managerial Accounting

Managerial Accounting


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elixy19elixy19
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($2,000 + $7,000) ÷ $6,000 = 1.5
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