3 TAND 2- 2018 Summer Term (4W1) Take Test: Liabilities and Assets Current Asset
ID: 1172637 • Letter: 3
Question
3 TAND 2- 2018 Summer Term (4W1) Take Test: Liabilities and Assets Current Assets Cash 2016 2015 Stockholders' Equity 2016 2015 Curnent Liabilinies 63.6 58.5 Accounts payable 87.6 S8.5 Aocounts payable876 73.5 Notes payable / Accounts receivable 555 39.6 shoet-term debt 10.5 9.6 399 36.9 60 3.0 Odher current liabilities 120 liabilities 144.0 132.0 Current maturities of Inventories 45.9 42.9 long-term debt Other curent assets Total current Total current assets 171.0 144.0 Long-Term Assets Long-Term Liabilities 66.6 62.1 Long-term debt 239.7 168.9 Capital lease 09.5 915 obligations Buildings Equipment Less accumalated 119.1 99.6 Total Deb (56.1) (52.5) Deferred taes 239.1 200.7 liabilities 239.7 168.9 228 22.2 Net property, plant, and equipment Other long-term liabilities 2625 191.1 Other long-term assets 63.0 420 Total liabilities 406.3 323.1 362.1 242.7 Stockholders' Equity 126.6 63.6 Goodwill 60.0 ” Total long-term ssets Total liabilities and 533.1 386.7 Stockholders' Equity 533.1 386.7 Total Assets Refer to the balance sheet above. Realty Share's quick ratio for 2005 is closest to: a. 0.92 b. 1.09 d. 1.31Explanation / Answer
Quick Ratio = (Current Ration - Inventory) / Current Liability
= ($144 - $42.90) / $132
= $101.10 / $132
= 0.77
Quick ratio is 0.77.
Optio (C) is correct answer.
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