The following items are reported on a company's balance sheet: Line Item Description Amount Cash $296,600 Marketable
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Question:
The following items are reported on a company's balance sheet:
Line Item Description | Amount |
---|---|
Cash | $296,600 |
Marketable securities | 185,000 |
Accounts receivable (net) | 121,000 |
Inventory | 127,000 |
Accounts payable | 228,000 |
Determine (a) the current ratio and (b) the quick ratio. Round your answers to one decimal place.
Related Book For
Managerial Accounting
ISBN: 978-1285866307
13th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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