The following items are reported on a companys balance sheet: Cash $190,000 Temporary investments 150,000 Accounts receivable

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The following items are reported on a company’s balance sheet:

Cash $190,000

Temporary investments 150,000

Accounts receivable (net) 260,000

Inventory 300,000

Accounts payable 600,000

Determine

(a) The current ratio and

(b) The quick ratio. Round to one decimal place.

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Accounting

ISBN: 978-0324662962

23rd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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Question Posted: Aug 29, 2011 06:51 PM

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The following items are reported on a companys balance sheet: Cash $190,000 Temporary investments 150,000 Accounts receivable

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