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eBook Current Ratio and Quick (Acid-Test) Ratio Jordan Company provided the following information: Current assets: Cash $12,450,000 Accounts receivable 7,429,000 Inventories 7,742,500 Total current
eBook Current Ratio and Quick (Acid-Test) Ratio Jordan Company provided the following information: Current assets: Cash $12,450,000 Accounts receivable 7,429,000 Inventories 7,742,500 Total current assets $27,621,500 Current liabilities $13,855,000 Required: Note: Round answers to one decimal place. 1. Compute the current ratio. 2. Compute the quick (acid-test) ratio.
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Governmental and Nonprofit Accounting
Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi
10th edition
132751267, 978-0132751261
