The following items are reported on a companys balance sheet: Cash .......... $125,000 Marketable securities ...... 40,000
Question:
Cash .......... $125,000
Marketable securities ...... 40,000
Accounts receivable (net) .... 30,000
Inventory ......... 120,000
Accounts payable ...... 150,000
Determine
(a) The current ratio and
(b) The quick ratio. Round to one decimal place.
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Related Book For
Accounting
ISBN: 978-0324401844
22nd Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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