The following partial balance sheet ($ in thousands) for paisano seafood inc. is shown below.

The following partial balance sheet ($ in thousands) for Paisano Seafood Inc. is shown below.

Assets   Liabilities and Equity
  Cash $ 80   Accounts payable $223
  Accounts receivable (net) 180   Other liabilities 62
  Notes receivable 67   Total current liabilities 285
  Inventories 215   Long-term liabilities 94
  Prepaid expenses 34     Total liabilities 379
      Total current assets 576   Shareholders' equity:
  Plant assets (net) 264   Capital stock 132
  Retained earnings 329
  Total shareholders' equity 461
  Total assets $840   Total liabilities and equity $840

Consider Notes receivable to be liquid assets.

Quick assets total:

Answer

Quick Assets: the quick assets include cash, debtors, and securities which can be realised with out difficulty. stock and pre paid expenses are not included in quick assets.

total quick assets of the company= current assets- inventory- prepaid expenses

= 576- 215-34

= $327 thousand

Hottest videos

Leave a Reply

Your email address will not be published.

Related Posts