The following items are reported on a companys balance sheet: Cash .....................................................................$225,000 Marketable securities ..........................................115,000 Accounts receivable
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The following items are reported on a company’s balance sheet:
Cash .....................................................................$225,000
Marketable securities ..........................................115,000
Accounts receivable (net) ....................................112,000
Inventory ...............................................................158,000
Accounts payable .................................................244,000
Determine
(a) The current ratio and
(b) The quick ratio. Round to one decimal place.
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Related Book For
Corporate Financial Accounting
ISBN: 9781337398169
15th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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