Jordan Company provided the following information: Current assets: Cash....................................................$12,450,000 Accounts receivable.....................................8,740,000 Inventories................................................8,150,000 Total current assets...................................$29,340,000 Current liabilities.....................................$16,300,000
Question:
Jordan Company provided the following information: Current assets:
Cash....................................................$12,450,000
Accounts receivable.....................................8,740,000
Inventories................................................8,150,000
Total current assets...................................$29,340,000
Current liabilities.....................................$16,300,000
Required:
1. Compute the current ratio.
2. Compute the quick (acid-test) ratio.
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Related Book For 
Cornerstones of Managerial Accounting
ISBN: 978-1305103962
6th edition
Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
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