Question
4. Sean Company has the following account balances on December 31, 2016: Cash - $ 3,000; Accounts Receivable - $ 7,500; Office Supplies - $
4. Sean Company has the following account balances on December 31, 2016: Cash - $ 3,000; Accounts Receivable - $ 7,500; Office Supplies - $ 200; Prepaid Rent - $ 800; Accounts Payable - $ 6,500; Unearned Revenue - $ 1,300; Mortgage Payable - $28,700.
Compute current ratio. ______________
5. Using the information in No. 4, compute quick ratio. ______________
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Financial Accounting
Authors: Robert Libby, Patricia Libby, Daniel Short, George Kanaan, Maureen Sterling
7th Canadian Edition
1260065952, 978-1260065954
