compute the quick ratio for december 31 2012 and 2011 554259
PE 11-8B Quick ratio
Tappert Company reported the following current assets and liabilities for December 31, 2012 and 2011:
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compute the quick ratio for december 31 2012 and 2011 554259
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|
Dec. 31, 2012 |
Dec. 31, 2011 |
|
|
Cash |
$ 990 |
$ 860 |
|
Temporary investments |
1,910 |
1,500 |
|
Accounts receivable |
1,600 |
1,280 |
|
Inventory |
2,000 |
1,400 |
|
Accounts payable |
3,000 |
2,800 |
a. Compute the quick ratio for December 31, 2012 and 2011.
b. Interpret the company’s quick ratio. Is the quick ratio improving or declining?
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