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Current Ratio and Quick (Acid-Test) Ratio Jordan Company provided the following information: Current assets: Cash Accounts receivable Inventories $14,940,000 7,429,000 9,372,500 Total current assets
Current Ratio and Quick (Acid-Test) Ratio Jordan Company provided the following information: Current assets: Cash Accounts receivable Inventories $14,940,000 7,429,000 9,372,500 Total current assets $31,741,500 Current liabilities $15,485,000 Required: Note: Round answers to one decimal place. 1. Compute the current ratio. 2. Compute the quick (acid-test) ratio.
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Fundamental Accounting Principles Volume II
Authors: Larson Kermit, Jensen Tilly
14th Canadian Edition
71051570, 0-07-105150-3, 978-0071051576, 978-0-07-10515, 978-1259066511
