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Erastic Company has $14,000 in cash, $8,000 in marketable securities, $34,000 in account receivable, $40,000 in inventories, and $42,000 in current liabilities. The company's current assets consist of cash, marketable securities, accounts receivable, and inventory. The company's acid-test ratio is closest to

Respuesta :

Answer:

1.33

Explanation:

Data provided in the question:

Cash = $14,000

Marketable securities = $8,000

Account receivable = $34,000

Current liabilities = $42,000

Now,

Acid Test Ratio

= (Cash + Marketable securities + Account receivable) ÷ Current Liabilities

= ( $14,000 + $8,000 + $34,000 ) ÷ $42,000

= $56,000 ÷ $42,000

= 1.33

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