Kingsbury Associates has current assets as follows: - 4390

Solution Posted by
UoPExpert

UoPExpert

Rating : (2)F
Solution Detail
Price: $1.30
  • From: ,
  • Posted on: Wed 28 Mar, 2012
  • Request id: None
  • Purchased: 0 time(s)
  • Average Rating: No rating
Request Description

Kingsbury Associates has current assets as follows:

Cash $3,000

Accounts receivable $4,500

Inventories $8,000

If Kingsbury has a current ratio of 3.2, what is its quick ratio?

a. 2.07

b. 1.55

c. 0.48

d. 0.96

Solution Description

Kingsbury Associates has current assets as follows: