Information from Raff Co. at Dec. 31, 2012, follows: cash, $820,000; accounts receivable, $240,000; inventories, $470,000; plant
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Information from Raff Co. at Dec. 31, 2012, follows: cash, $820,000; accounts receivable, $240,000; inventories, $470,000; plant assets, $910,000; accounts pavable, $350,000; and income taxes payable, $180,000. Compute its
(a) current ratio and {b) acid-test ratio.
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Related Book For 
Fundamental Accounting Principles Volume 2
ISBN: 9780077716660
21st Edition
Authors: John Wild, Ken Shaw, Barbara Chiappetta
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