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Russell's Deli has cash of $136, accounts receivable of $95, accounts payable of $210, and inventory of $409
Russell's Deli has cash of $136, accounts receivable of $95, accounts payable of $210, and inventory of $409. What is the value of the quick ratio?
0.31
0.53
0.71
1.10
1.07
Expert Solution
D.1.10.
Working:
Quick ratio = (cash +accounts receivable) / current liabilities.
Here,
cash = $136.
accounts receivable = $95.
accounts payable is the only current liability, so current liabilities = $210.
quick ratio = ($136 + 95) / 210
=>1.10.
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