Selected information from the 2014 and 2013 financial statements of Sculley Corporation is presented below:

-Refer to the Sculley Corporation information above.Sculley's quick (acid test)ratio as December 31,2014,is
A) 1.44 to 1.
B) 1.50 to 1.
C) 1.67 to 1.
D) 1.66 to 1.

Question

Selected information from the 2014 and 2013 financial statements of Sculley Corporation is presented below:
  
-Refer to the Sculley Corporation information above.Sculley's quick (acid test)ratio as December 31,2014,is
A) 1.44 to 1. 
B) 1.50 to 1. 
C) 1.67 to 1. 
D) 1.66 to 1.

Quizplus · Accepted Answer

Quick (acid test) ratio = (Cash + Marketable securities + Accounts receivable) / Current liabilities= (200 + 100 + 500) / 350= 800 / 350= 1.44 to 1

Selected Information from the 2014 and 2013 Financial Statements of Sculley