Selected financial statement data for Meyer Company are presented below. $\begin{array}{lr}&12 / 31 / 14\
\text { Inventories } & \$ 75,000 \
\text { Accounts receivable } & 60,000 \
\text { Short-term investments } & 15,000 \
\text { Cash } & 10,000 \
\text { Total current liabilities } & 110,000
\end{array}$ Instructions
Compute the following ratios at December 31, 2014:
(a) Current.
(b) Acid-test.

Question

Quizplus · Accepted Answer

The Answer of Selected financial statement data for Meyer Company are presented below. $\begin{array}{lr}&12 / 31 / 14\
\text { Inventories } & \$ 75,000 \
\text { Accounts receivable } & 60,000 \
\text { Short-term investments } & 15,000 \
\text { Cash } & 10,000 \
\text { Total current liabilities } & 110,000
\end{array}$ Instructions
Compute the following ratios at December 31, 2014:
(a) Current.
(b) Acid-test.

Selected Financial Statement Data for Meyer Company Are Presented Below