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Data from Dunshee Corporation's most recent balance sheet appear below:Year 2Year 1Current ...

mylesnagop

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10 months ago

Data from Dunshee Corporation's most recent balance sheet appear below:Year 2Year 1Current ...

Data from Dunshee Corporation's most recent balance sheet appear below:

	Year 2	Year 1
Current assets:
Cash	$ 150	$ 120
Accounts receivable, net	310	330
Inventory	150	170
Prepaid expenses	30	30
Total current assets	$ 640	$ 650
Total current liabilities	$ 310	$ 320

Sales on account in Year 2 amounted to $1,670 and the cost of goods sold was $1,030.

The acid-test (quick) ratio at the end of Year 2 is closest to:

▸ 2.06

▸ 1.58

▸ 1.48

▸ 1.26

Textbook

Introduction to Managerial Accounting: Brewer Edition: 9e

Edition: 9^th

Authors: Brewer, Garrison, Noreen

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More solutions for this book are available here

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I appreciate what you did here, answered it right Smiling Face with Open Mouth

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Smart ... Thanks!

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