Question

Shown below are selected data from the balance sheet of Compros, a small electronics store (dollar...

Shown below are selected data from the balance sheet of Compros, a small electronics store (dollar amounts are in thousands):

Cash $ 66
Accounts receivable $ 126
Inventory $ 195
Total assets $ 855
Current liabilities $ 210
Noncurrent liabilities $ 330

What is the quick ratio?

Multiple Choice

  • 0.93 to 1.

  • 0.91 to 1.

  • 1.84 to 1.

  • 0.6 to 1.

What is the current ratio?

Multiple Choice

  • 0.93 to 1.

  • 0.6 to 1.

  • 1.84 to 1.

  • 0.91 to 1.

What is the amount of working capital?

Multiple Choice

  • $387

  • $243

  • $177

  • $210

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Homework Answers

Answer #1
Cash 66
Accounts receivable 126
Inventory 195
Total current assets 387
Current liabilities 210
3 Working capital= Current assets - current liabilities
Working capital 177 (387-210)
Correct answer is C
2 Current ratio = Current assets / current Liabilities
Current ratio 1.84 -1.84
Correct answer is C
1 Quick ratio = (current assets - inventory)/ current liabilities
Qyuick assets (387-195) 192
Quick ratio 0.91 (192/210)
Correct answer is B
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