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Category > Accounting Posted 25 Sep 2017 My Price 7.00

Apple Inc.

EX 10-23 Quick ratio

The current assets and current liabilities for Apple Inc. and Dell, Inc., are shown as follows at the end of a recent fiscal period:

Current assets:

    

Cash and cash equivalents

$11,261

$13,913

Short-term investments

14,359

452

Accounts receivable

11,560

10,136

Inventories

1,051

1,301

Other current assets*

3,447

3,219

Total current assets

$41,678

$29,021

Current liabilities:

    

Accounts payable

$17,738

$15,474

Accrued and other current liabilities

2,984

4,009

Total current liabilities

$20,722

$19,483

*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.

Answers

Maurice Tutor
(5)
Status NEW Posted 25 Sep 2017 11:09 PM My Price 7.00

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