Use the information below for Privett Company to answer the question that follow

Question

Use the information below for Privett Company to answer the question that follow. Privett Company $30,000 35,000 7,000 25,000 40,000 72,000 100,000 75,000 36,000 20,000 400,000 2,000 Accounts payable Accounts receivable Accrued liabilities Intangible assets Long-term investments Long-term liabilities Marketable securities Notes payable (short-term) Property, plant, and equipment Prepaid expenses Based on the data for Privett Company, what is the amount of quick assets? Oa. $61,000 Ob. $96,000 Od. $168,000 All work saved.

Explanation / Answer

The correct answer is b. $ 96,000

Note :

Quick Assets = Accounts Receivable +Cash + Marketable Securities

= $ 35,000 + $ 25,000 + $ 36,000

= $ 96,000

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