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Alycia Zemlak

Feb 20, 2025

Data from Fontecchio Corporation’s most recent balance sheet appear below: Cash $ 51,000 Marketable securities $ 52,000 Accounts receivable

Data from Fontecchio Corporation's most recent balance sheet appear below: Cash $ 51,000 Marketable securities $ 52,000 Accounts receivable $ 11,800 Inventory $ 88,000 Prepaid expenses $ 46,000 Current liabilities $ 328,000 The corporation's acid-test ratio is closest to:
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Alycia Zemlak

Feb 20, 2025

0.35Explanation:Calculation to determine what The corporation's acid-test ratio is closest to:First step is to calculate the Quick assets Using this formulaQuick assets = Cash + Marketable securities + Accounts receivable + Short-term notes receivableLet plug in the formulaQuick assets= $51,000 + $52,000 + $ 11,800 + $0 Quick assets= $114,800 Now let calculate the Acid-test ratio Using this formulaAcid-test ratio = Quick assets ÷ Current liabilitiesLet plug in the formulaAcid-test ratio = $114,800 ÷ $ 328,000 Acid-test ratio = 0.35Therefore The corporation's acid-test ratio is closest to:0.35... Show More
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Alycia Zemlak

Feb 20, 2025

answer; ///pegged exchange rate with the united states;... Show More
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