The following items are reported on a companys balance sheet: Cash ...............$210,000 Marketable securities........ 120,000 Accounts receivable

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The following items are reported on a company’s balance sheet:

Cash ...............$210,000

Marketable securities........ 120,000

Accounts receivable (net) ....... 110,000

Inventory ............ 160,000

Accounts payable.......... 200,000

Determine

(a) The current ratio

(b) The quick ratio. Round to one decimal place.

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Financial And Managerial Accounting

ISBN: 9781337119207

14th Edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

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Question Posted: Feb 28, 2014 09:18 AM

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The following items are reported on a companys balance sheet: Cash ...............$210,000 Marketable securities........ 120,000 Accounts receivable

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