The following items are reported on a companys balance sheet: Cash $190,000 Temporary investments 150,000 Accounts receivable
Question:
The following items are reported on a company’s balance sheet:
Cash $190,000
Temporary investments 150,000
Accounts receivable (net) 260,000
Inventory 300,000
Accounts payable 600,000
Determine
(a) The current ratio and
(b) The quick ratio. Round to one decimal place.
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Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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