5-11 - Case X Case Y Case Z Cash $ 920 $ 1,046 $ 1,220...

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Page 11 of 11 http://ezto.mhhm.mcgraw-hill.com/hm_accounting.tpx?todo=printview Current liabilities $ 2,563 $ 1,281 $ 4,254 Case X Case Y Case Z Current ratio 1.72 3.11 1.91 Acid-test ratio .36 1.70 .61 Requirement 2: Which company case is in the best position to meet short-term obligations? Case Y Worksheet Learning Objective: 05-A1 Requirement 1: Compute the current ratio and acid-test ratio for each of the following separate cases. (Round your answers to 2 decimal places.)
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Unformatted text preview: Case X Case Y Case Z Cash $ 920 $ 1,046 $ 1,220 Short-term investments 0 0 500 Current receivables 0 1,126 890 Inventory 2,300 1,136 4,600 Prepaid expenses 1,200 679 900 Total current assets $ 4,420 $ 3,987 $ 8,110 Current liabilities $ 2,563 $ 1,281 $ 4,254 Case X Case Y Case Z Current ratio 1.72 3.11 1.91 Acid-test ratio .36 1.70 .61 Requirement 2: Which company case is in the best position to meet short-term obligations? Case Y...
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This note was uploaded on 08/09/2010 for the course ACCT 1 taught by Professor Ludwig during the Spring '10 term at Los Angeles City College.

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