Question

Privett Company Accounts payable $35,172 Accounts receivable 61,830 Accrued liabilities 6,449 Cash 18,199 Intangible assets 36,789...

Privett Company
Accounts payable $35,172
Accounts receivable 61,830
Accrued liabilities 6,449
Cash 18,199
Intangible assets 36,789
Inventory 85,546
Long-term investments 93,954
Long-term liabilities 72,236
Marketable securities 37,578
Notes payable (short-term) 20,447
Property, plant, and equipment 668,167
Prepaid expenses 1,246

Based on the data for Privett Company, what is the amount of quick assets?

a.$1,608,400

b.$55,777

c.$809,490

d.$117,607

Business   Accounting   
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Answer #1
Correct Option D i.e. $117607
Quick assets = Quick assets are mainly those assets which can be realized I cash within a very short period of time.
Accounts receivable           61,830
Cash           18,199
Marketable securities           37,578
Total Quick assets                117,607
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