A company has the following current assets: Cash, $10,000 Accounts Receivable, $70,000 Inventory, $20,000 The company also

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A company has the following current assets:

Cash, $10,000

Accounts Receivable, $70,000

Inventory, $20,000

The company also has current liabilities of $40,000. Calculate the company’s current ratio and quick ratio. If required, round your answers to one decimal place.

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Accounting Principles

ISBN: 978-1119048503

7th Canadian Edition Volume 1

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

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Posted Date: Jan 15, 2021 07:33 AM

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A company has the following current assets: Cash, $10,000 Accounts Receivable, $70,000 Inventory, $20,000 The company also

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Answers Current ratio 25 1 Quick ratio 2 1 Solutions Current ratio ... View the full answer

Accounting Principles

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