Vanity Dog Products had the following account balances. Required:
Compute the following:
1) The 2015 Quick Ratio
2) The 2015 Current Ratio
3) The 2016 Quick Ratio
4) The 2016 Current Ratio
5) What was net income for 2016, assuming no dividends were paid?
6) Did the quick ratio improve for 2016 over 2015 or did it degrade?

Question

Vanity Dog Products had the following account balances.   Required:
Compute the following:
1) The 2015 Quick Ratio
2) The 2015 Current Ratio
3) The 2016 Quick Ratio
4) The 2016 Current Ratio
5) What was net income for 2016, assuming no dividends were paid?
6) Did the quick ratio improve for 2016 over 2015 or did it degrade?

Quizplus · Accepted Answer

The Answer of Vanity Dog Products had the following account balances.   Required:
Compute the following:
1) The 2015 Quick Ratio
2) The 2015 Current Ratio
3) The 2016 Quick Ratio
4) The 2016 Current Ratio
5) What was net income for 2016, assuming no dividends were paid?
6) Did the quick ratio improve for 2016 over 2015 or did it degrade?

Vanity Dog Products Had the Following Account Balances