Question
Current Position Analysis The following items are reported on a company's balance sheet: Cash $304,000 Marketable securities 237,500 Accounts receivable (net) 218,500 Inventory 190,000 Accounts
Current Position Analysis
The following items are reported on a company's balance sheet:
Cash $304,000
Marketable securities 237,500
Accounts receivable (net) 218,500
Inventory 190,000
Accounts payable 475,000
Determine (a) thecurrent ratioand (b) thequick ratio. Round to one decimal place.
a.Current ratio
b.Quick ratio
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Fundamental Accounting Principles Volume 1
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
15th Canadian Edition
1259259803, 978-1259259807
