The following items are reported on a companys balance sheet: Cash.................................................... $320,000 Marketable securities .........................170,000 Accounts receivable
Question:
The following items are reported on a company’s balance sheet:
Cash.................................................... $320,000
Marketable securities .........................170,000
Accounts receivable (net).................. 140,000
Inventory .............................................450,000
Accounts payable ...............................300,000
Determine
(a) The current ratio
(b) The quick ratio.
Round to one decimal place.
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Answer A Current Ratio Current Ratio current asstes current liabilities Current asstes 320...View the full answer
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Related Book For 
Financial Accounting
ISBN: 9781337913102
16th Edition
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
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