A restaurant reported the following current assets: cash $11,200, credit card receivables $808, accounts receivable $260, food

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A restaurant reported the following current assets: cash $11,200, credit card receivables $808, accounts receivable $260, food inventory $4,482, and prepaid expenses, $1,220. Current liabilities total $6,912. Answer the following:

a. Calculate the current ratio.

b. Calculate the quick ratio (acid test ratio).

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Hospitality Management Accounting

ISBN: 9780471687894

9th Edition

Authors: Martin G Jagels, Catherine E Ralston

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Question Posted: Jun 21, 2024 09:00 AM

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A restaurant reported the following current assets: cash $11,200, credit card receivables $808, accounts receivable $260, food

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Hospitality Management Accounting

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