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As of December 31, the Stanford company has the following information. Use this information to answer questions 1 to 3.

Cash $5,000
Accounts Receivable 15,000
Inventory 40,000
Prepaid Insurance 3000
Long-term Assets 100,000
Accounts Payable 15,000
Notes Payable in 5 Months 12,500
Salary Payable 25,000
Notes Payable in 5 Years
35,000
Owner’s Equity 98,000
1. What is the company's Quick Ratio?

Question 1 options:

1.70


0.70


0.38


1.25

Question 2 (10 points)
As of December 31, the Stanford company has the following information. Use this information to answer questions 1 to 3.

Cash $5,000
Accounts Receivable 15,000
Inventory 40,000
Prepaid Insurance 3000
Fixed Assets 100,000
Accounts Payable 15,000
Notes Payable in 5 Months 12,500
Salary Payable 25,000
Notes Payable in 5 years
35,000
Owner’s Equity 98,000
2. What is the company's Working Capital?

Question 2 options:

12,500


10,500


15,000


15,500

Question 3 (10 points)
As of December 31, the Stanford company has the following information. Use this information to answer questions 1 to 3.

Cash $5,000
Accounts Receivable 15,000
Inventory 40,000
Prepaid Insurance 3000
Fixed Assets 100,000
Accounts Payable 15,000
Notes Payable in 5 Months 12,500
Salary Payable 25,000
Notes Payable in 5 years
35,000
Owner’s Equity 98,000
2. What is the company's Current Ratio?

Question 3 options:

2.5


1.75


2.1


1.2

Sagot :

charliewood
it would determine that the answer is 50k
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