Question
Calculator Current Position Analysis The following items are reported on a company's balance sheet: Cash $621,800 Marketable securities 485,800 Accounts receivable (net) 558,000 Inventory 277,600
Calculator
Current Position Analysis
The following items are reported on a company's balance sheet:
| Cash | $621,800 |
| Marketable securities | 485,800 |
| Accounts receivable (net) | 558,000 |
| Inventory | 277,600 |
| Accounts payable | 694,000 |
Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.
| a. Current ratio | |
| b. Quick ratio |
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ISE Managerial Accounting
Authors: Ray H. Garrison, Eric Noreen, Peter C. Brewer
17th Edition
1260575683, 9781260575682
