The following items are reported on a companys balance sheet: Cash ...........$130,000 Marketable securities ..... 50,000 Accounts

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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.

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Corporate Financial Accounting

ISBN: 978-1133952411

12th edition

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

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Question Posted: Feb 28, 2014 09:18 AM

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The following items are reported on a companys balance sheet: Cash ...........$130,000 Marketable securities ..... 50,000 Accounts

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Corporate Financial Accounting

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