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

Question

Use the information below for Harding Company to answer the question that follow. Harding Company $37,434 65,055 6,539 23,658 38,758 73,835 92,672 77,586 31,219 24,832 678,892 1,215 Accounts payable Accounts receivable Accrued liabilities Cash Intangible assets Inventory Long-term investments Long-term liabilities Marketable securities Notes payable (short-term) Property, plant, and equipment Prepaid expenses Based on the data for Harding Company, what is the amount of quick assets? a, $54,877 b. $807,604 c. $119,932 d. $1,617,926

Explanation / Answer

1) Hardling company's quick assets :

Quick assets = Cash+marketable securities +account receivable

= 23658+31219+65055

Quick assets = 119932

so answer is c) $119932

2) Current ratio = current assets/current liabilities

= (40000+30000+25000)/60000

Current ratio = 1.58

so answer is d) 1.58

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