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Based on the following data, what is the amount of quick assets? Accounts payable $ 30,000 Accounts receivable 45,000 Accrued liabilities 7,000 Cash 20,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 100,000 Long-term liabilities 75,000 Notes payable (short-term) 20,000 Property, plant, and equipment 625,000 Prepaid expenses 2,000 Temporary investments 36,000 a. $101,000

Respuesta :

Answer:

$ 65,000

Explanation:

The quick assets are the assets which can be converted into cash quickly.

The quick assets includes the available cash, marketable securities and the accounts receivable.

Thus, for the given problem

The amount of quick assets = Accounts receivable + Cash

on substituting the values from the question, we get

The amount of quick assets = $ 45,000 + $ 20,000 = $ 65,000