Cameron Company has current assets equal to $250,000. Of these, $135,000 is cash, $55,000 is accounts receivable,
Question:
Cameron Company has current assets equal to $250,000. Of these, $135,000 is cash, $55,000 is accounts receivable, and the remainder is inventories. Current liabilities total $200,000.
Required:
Round answers to two decimal places.
1. Compute the current ratio for Cameron Company.
2. Compute the quick (acid-test) ratio for Cameron Company.
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Related Book For
Cornerstones of Managerial Accounting
ISBN: 978-0324660135
3rd Edition
Authors: Mowen, Hansen, Heitger
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