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eBook Show Me How Question Content Area Current Position Analysis The following items are reported on a company's balance sheet: Cash $364,500 Marketable securities 284,800
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Question Content Area
Current Position Analysis
The following items are reported on a company's balance sheet:
| Cash | $364,500 |
| Marketable securities | 284,800 |
| Accounts receivable (net) | 87,700 |
| Inventory | 402,000 |
| Accounts payable | 670,000 |
Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.
| a. Current ratio | fill in the blank 1 |
| b. Quick ratio | fill in the blank 2 |
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Principles Of Auditing And Other Assurance Services
Authors: Ray Whittington, Kurt Pany
17th Edition
0077304454, 978-0077304454
