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Anonymous

Nov 20, 2024

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 is presented below:

  • Cash: $51,000
  • Marketable securities: $52,000
  • Accounts receivable: $11,800
  • Inventory: $88,000
  • Prepaid expenses: $46,000
  • Current liabilities: $328,000

Based on this information, what is the corporation's acid-test ratio?

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3 Answers

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Anonymous

Feb 19, 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
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A
Anonymous

Feb 15, 2025

answer; ///pegged exchange rate with the united states;
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