Data from Gofman Corporation's most recent balance sheet appear below: Sales on account in Year 2 amounted to $1,300 and the cost of goods sold was $900.
-The acid-test ratio at the end of Year 2 is closest to:
A) 1.39
B) 2.78
C) 1.44
D) 0.94

Question

Data from Gofman Corporation's most recent balance sheet appear below:  Sales on account in Year 2 amounted to $1,300 and the cost of goods sold was $900.
-The acid-test ratio at the end of Year 2 is closest to:
A) 1.39 
B) 2.78 
C) 1.44 
D) 0.94

Quizplus · Accepted Answer

The Answer of Data from Gofman Corporation's most recent balance sheet appear below:  Sales on account in Year 2 amounted to $1,300 and the cost of goods sold was $900.
-The acid-test ratio at the end of Year 2 is closest to:
A) 1.39 
B) 2.78 
C) 1.44 
D) 0.94

Data from Gofman Corporation's Most Recent Balance Sheet Appear Below