determine the quick ratio for both companies 554282
EX 11-23 Quick ratio
The current assets and current liabilities for Apple Computer, Inc., and Dell Inc. are shown as follows at the end of a recent fiscal period:
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determine the quick ratio for both companies 554282
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Apple Computer, Inc. |
Dell Inc. |
|
|
(in millions) |
(in millions) |
|
|
Sept. 26, 2009 |
Jan. 29, 2010 |
|
|
Current assets: |
||
|
Cash and cash equivalents |
$ 5,263 |
$10,635 |
|
Short-term investments |
18,201 |
373 |
|
Accounts receivable |
4,496 |
8,543 |
|
Inventories |
455 |
1,051 |
|
Other current assets* |
3,140 |
3,643 |
|
Total current assets |
$31,555 |
$24,245 |
|
Current liabilities: |
||
|
Accounts payable |
$ 9,453 |
$15,257 |
|
Accrued and other current liabilities |
2,053 |
3,703 |
|
Total current liabilities |
$11,506 |
$18,960 |
*These represent prepaid expense and other nonquick current assets.
a. Determine the quick ratio for both companies.
b. Interpret the quick ratio difference between the two companies.
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