Josh company inc had on its balance sheet, cash $75,000, accounts receivable $85,000, prepaid expenses 12,000, inventory $65,000, equipment of 10,000 and marketable securities of 15,000. On the liability side they had long term loans from shareholders of 40,000 accounts payable of 50,000 accrued expenses $6000, notes payable due on 1 year or more $80000 and current portion of notes payable of 18,000. Calculate current ratio and quick ratio from the information provided?

Answer rating: 100% (QA)

To calculate the current ratio and quick ratio we need to use the following formulas 1 Cur... View the full answer