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Current Position Analysis The following items are reported on a company's balance sheet: Cash $210,000 Marketable securities 120,000 Accounts receivable (net) 110,000 Inventory 160,000 Accounts
Current Position Analysis
The following items are reported on a company's balance sheet:
| Cash | $210,000 |
| Marketable securities | 120,000 |
| Accounts receivable (net) | 110,000 |
| Inventory | 160,000 |
| Accounts payable | 200,000 |
Determine (a) the current ratio and (b) the quick ratio. Round your answers to one decimal place.
| a. Current ratio | |
| b. Quick ratio |
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Auditing And Systems Objective Questions And Explanations Comprehensive And Systematic Covarage Of Auditing Including The Most Recent Authoritative Pronouncements
Authors: Irvin N. Gleim
7th Edition
0917539672, 978-0917539671
