Question
Baron Company reported the following data: Cash $80,000 Accounts receivable 120,000 Marketable securities 40,000 Inventory 100,000 Prepaid rent expense 10,000 Accounts payable 70,000 Current portion
Baron Company reported the following data:
|
|
|
| Cash | $80,000 |
| Accounts receivable | 120,000 |
| Marketable securities | 40,000 |
| Inventory | 100,000 |
| Prepaid rent expense | 10,000 |
| Accounts payable | 70,000 |
| Current portion of long-term debt | 140,000 |
| Net credit sales | 1,000,000 |
| Cost of goods sold | 600,000 |
Calculate the following ratios:
Current
Quick
Acid-test
Need to explain. Thanks
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Rockin Your Business Finances
Authors: Chrstine Odle
1st Edition
0999135104, 9780999135105
