Question
Current Position Analysis The following items are reported on a company's balance sheet: Cash $400,800 Temporary investments 313,100 Accounts receivable (net) 338,200 Inventory 200,400 Accounts
Current Position Analysis
The following items are reported on a company's balance sheet:
| Cash | $400,800 |
| Temporary investments | 313,100 |
| Accounts receivable (net) | 338,200 |
| Inventory | 200,400 |
| Accounts payable | 501,000 |
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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A Survey Of Financial And Managerial Accounting
Authors: Roger H. Hermanson, Roland F. Salmonson, James D. Edwards
5th Edition
025606976X, 978-0256069761
