A company has the following balances in its accounts on December 31, 2022 Cash $50,000 Accounts Receivable $30,000 Inventory $40,000 Accounts Payable $20,000 Loans Payable $10,000 Common Stock $60,000 Retained Earnings $70,000 Calculate the company 's current ratio and quick ratio on December 31, 2...

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A company has the following balances in its accounts on December 31, 2022: Cash: $50,000 Accounts Receivable:

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A company has the following balances in its accounts on December 31, 2022:

Cash: $50,000
Accounts Receivable: $30,000
Inventory: $40,000
Accounts Payable: $20,000
Loans Payable: $10,000
Common Stock: $60,000
Retained Earnings: $70,000

Calculate the company's current ratio and quick ratio on December 31, 2022.

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Advanced Accounting

ISBN: 978-1118037911

1st Canadian Edition

Authors: Gail Fayerman

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Posted Date: Feb 08, 2023 11:22 PM

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A company has the following balances in its accounts on December 31, 2022: Cash: $50,000 Accounts Receivable:

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