Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years: Current Year Previous Year Current assets: Cash $640,000 $866,000 Accounts receivable 567,000 407,000 Inventory 350,000 344,000 Total current assets $1,557,000 $1,617,000 Current liabilities: Current portion of long-term debt $114,000 $101,000Accounts payable 227,000 201,000 Accrued and other current liabilities 369,000 368,000 Total current liabilities $710,000 $670,000 Determine the quick ratio for December 31 of both years.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Gmeiner Co. had the following current assets and liabilities on December 31 of two recent years: Current Year Previous Year Current assets: ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
The current price for a good is $25 , and 100 units are demanded at that price. The price elasticity of demand for the good is negative 1. When the price of the good drops by 4 percent to $24 , consumer surplus increases by $ nothing.
Answers (1)
Ryan is self-employed. This year Ryan used his personal auto for several long business trips. Ryan paid $1,500 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would be $3,000.
Answers (1)
How do Government price ceilings and price floors affect the economy? Select all that apply. A: They Cause shortages and surpluses B:They guarantee that sellers receive a minimum reward for their efforts.
Answers (1)
The SBA provides information for which group of people? students taking business classes people employed by businesses people starting and operating small businesses people looking for jobs
Answers (1)
The price of home computers rises. According to the law of supply, what will computer makers do?
Answers (1)
New Questions in Business
After totaling the receipts in the petty cash box, Kelly Garrett Detective Agency spent $65 on Office Supplies and $145 on Auto Expense. The journal entry to record the reimbursement to the petty cash fund would include:a.
Answers (2)
A country reported nominal GDP of $200 billion in 2010 and $180 billion in 2009. It also reported a GDP deflator of 125 in 2010 and 105 in 2009. Between 2009 and 2010, how much did prices increase?
Answers (1)
Philadelphia Swim Club is planning for the coming year. Investors would like to earn a 10% return on the company's $37,000,000 of assets. The company primarily incurs fixed costs to maintain the swimming pool.
Answers (1)
On the balance sheet, owner's equity is a. equal to the total of assets and liabilities b. subtracted from liabilities and the net amount is equal to assets c. added to assets and the two are equal to liabilities d.
Answers (1)
Suppose the Fed decides to buy bonds and the New Hampshire Colonial Bank decides to sell $10 million worth of bonds.
Answers (1)