The following items are reported on a companys balance sheet: Cash ...........$130,000 Marketable securities ..... 50,000 Accounts
Question:
The following items are reported on a company’s balance sheet:
Cash ...........$130,000
Marketable securities ..... 50,000
Accounts receivable (net) ... 60,000
Inventory .......... 120,000
Accounts payable ...... 150,000
Determine
(a) The current ratio
(b) The quick ratio. Round to one decimal place.
Fantastic news! We've located the answer you've been seeking!
Step by Step Answer:
Related Book For
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
Question Posted: