The following items are reported on a companys balance sheet: Cash ...............$210,000 Marketable securities........ 120,000 Accounts receivable
Question:
The following items are reported on a company’s balance sheet:
Cash ...............$210,000
Marketable securities........ 120,000
Accounts receivable (net) ....... 110,000
Inventory ............ 160,000
Accounts payable.......... 200,000
Determine
(a) The current ratio
(b) The quick ratio. Round to one decimal place.
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Related Book For
Financial And Managerial Accounting
ISBN: 9781337119207
14th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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