Question
Current Ratio and Quick (Acid-Test) Ratio Jordan Company provided the following information: Current assets: Cash $14,317,500 Accounts receivable 9,177,000 Inventories 9,372,500 Total current assets $32,867,000
Current Ratio and Quick (Acid-Test) Ratio
Jordan Company provided the following information:
| Current assets: | ||
| Cash | $14,317,500 | |
| Accounts receivable | 9,177,000 | |
| Inventories | 9,372,500 | |
| Total current assets | $32,867,000 | |
| Current liabilities | $17,930,000 | |
Required:
Note: Round answers to one decimal place.
1. Compute the current ratio.
2. Compute the quick (acid-test) ratio.
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Food And Beverage Cost Control
Authors: Lea R. Dopson, David K. Hayes
6th Edition
1118988493, 978-1118988497
