Question

Privett Company

Accounts payable $32,581
Accounts receivable 74,771
Accrued liabilities 6,290
Cash 24,116
Intangible assets 42,381
Inventory 74,844
Long-term investments 95,587
Long-term liabilities 79,677
Marketable securities 31,145
Notes payable (short-term) 24,824
Property, plant, and equipment 671,789
Prepaid expenses 2,412
Based on the data for Privett Company, what is the amount of quick assets?
a. $1,660,292
b. $823,594
c. $119,071
d. $53,633

Answer 1

$130,032

Step-by-step explanation:

Calculation to determine the amount of quick assets

Using this formula

Quick assets=Accounts receivable +Cash+Marketable securities

Let plug in the formula

Quick assets=$74,771+$24,116+31,145

Quick assets= $130,032

Therefore the amount of quick assets is $130,032