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dont know why me answer was incorrect thanks for helping! The following amounts were reported by Liquid Company in its most recent statement of financial
dont know why me answer was incorrect
thanks for helping!
The following amounts were reported by Liquid Company in its most recent statement of financial position: Cash Accounts receivable (net) Short-term investments Inventory Prepaid insurance Property, plant, and equipment (net) Accounts payable Wages payable Income tax payable Sales tax payable Notes payable (due within one year) Bank loan payable (due in three years) $58,710 130,000 25,000 390,000 34,410 960,000 99,000 37,000 57,000 10,000 98,000 50,000 (a) Calculate the current ratio and quick ratio for Liquid Company. (Round answers to 2 decimal places, e.g. 15.25.) Current ratio 1.82 Times Quick ratio 0.61 TimesStep by Step Solution
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